Go with a fixed screen, unless you absolutely have to be able to retract it. I would consider an acoustically-transparent screen with nice in-wall main and center speakers behind it (unless you are planning to use existing speakers).
I have been very pleased with my Sony projector. It is very bright with good contrast and handles a decent amount of ambient light just fine.
I know a guy in West Knoxville that has done work for me on multiple occasions and really knows his stuff. Friends I have referred him to have also been pleased. He also has access to a couple of nice hi-fi speaker lines not available in retail stores and can get very competitive pricing on screens, mounts, etc.