Actually I have a 110" projection I plan to hook the new system to.
Just a heads up on the 110" screen. If you have any kind of motion sickness issues, this could be a problem. With such a big screen, you will constantly be moving your eyes and head around to take in the whole screen. My neighbor tried this with his XBOX, and took it off after 10 minutes, He said he just about threw up. It can also take away a bot from the enjoyment. What's interesting is the really good gamers (not me BTW) play on small screens like 27", sitting right up close to them, because they can take in the whole screen easily, particularly the shooter games (MW3, etc) because it's easier to pick up peripheral movement.
Regardless, I think you'll have a lot of fun. There are so many games out there of every conceivable nature.