I picked up the 4800DLP model a couple weeks ago (this week's deal is the model up) - I recieved the projector promptly (within 4 business days), and it was packaged very safely/professionally.
You could tell my projector had been used by some light scratch marks on the lense itself, and slight cosmetic scratches on the surface of the unit - but it seems to be working just fine.
As with anything refurbed you're taking a bigger chance than if you were to by new, the most common problem with these projectors is the color wheel wearing out and needing replaced. However I jumped on it anyway, and so far am happy with my purchase (mine was $500, screen will be another $60 or so when I'm finished), and it's the perfect compliment to my very nice HT audio setup.