I have a Sony 42" DLP and am very happy with it. Yes, you can change out the bulbs and they are rated at 2,000 hours. Replacement bulbs run $~150 online. Considering this was 1,000 less than a similar LCD, well worth the savings!
Yes, you can't hang it on the wall. BUT, the way I see it, as long as it's no deeper than my DVD, DVR, stereo, etc that sit under it, why bother hanging on the wall? Sure, for some setups it works better to hide the components in a cabinet off to the side, but I laugh at how many people I've seen with an expensive plasma/LCD and expensive mounting kit mount their new TV right over a cabinet containing all of the a/v stuff....why not save money and just set a DLP on top of the cabinet? Another plus, they weight like 30 pounds!