Projector Central has a review of the Optoma H79 DLP projector. It has a 1280×720 DMD with a 5x eight-segment colour wheel. It includes a DVI-I port but no HDMI.

Supposedly this projector has excellent black levels:

Contrast on the H79 was nothing short of astounding – black level is the best we’ve seen short of a CRT projector. Shadow details are open and well-defined, and there is no crushing of the grayscale on either end of the spectrum.

No mention is made of how bad the rainbow effect might be.

Link: Projector Central - Optoma H79 Home Theater Projector