The problem with "rainbowing" had less to do with the color wheel itself than the speed at which it rotated. Virtually every major review of the current generation of wheel-based DLP's agrees that a higher-speed wheel solves the problem; given that you should be able to control the color changes in an LED with infinitely greater granularity implies that the only legitimate complaints about rainbowing will be coming from those realizing they could have had that great HD picture at a fraction of what their trendy plasma counterpart took from their wallets.

LCOS is a technology on life support after having been nearly abandoned for dead in its first iteration. There are a few adherents, but its still a niche technology in this market.

DLP is proving to be a real thorn in the side of LCD (with its dead pixels and slow response) and Plasma (with its separating layers and burn-in) with its lower cost, better blacks, better contrast, higher longevity, and fundamentally superior technology. And, no, I don't work for anyone selling DLP sets - I just recognize a winner when I see it. And LED-based DLP will simply raise the frustration bar for competitors that much higher. Awesome choice for consumers.