Best way to set up home theatre projector?

Would love some advice from anyone who's done it before.  I'm looking into getting an HD projector to watch our games this season.  Right now I've got a pretty nice HDTV but the problem is I don't really watch much TV other than footie.  But it's so big and takes up so much space in the living room, and it's useless 99% of the time. 

So I've been thinking about getting rid of the TV and just getting an HD projector that I can pull out to watch our games and then put away for the rest of the time.  Does anyone do this for our games?

I've been looking at some decent mid-range projectors, but I'm wondering a couple of things:

1) do I absolutely need some kind of screen to put up, or will it be fine if I just project it against a white wall?
2) does the room have to be dark to get the best quality?
3) does it retain the same HD quality that you'd see, for example, on an HDTV?

any suggestions or comments are appreciated, thanks lads!

Would love some advice from anyone who's done it before.  I'm looking into getting an HD projector to watch our games this season.  Right now I've got a pretty nice HDTV but the problem is I don't really watch much TV other than footie.  But it's so big and takes up so much space in the living room, and it's useless 99% of the time. 

So I've been thinking about getting rid of the TV and just getting an HD projector that I can pull out to watch our games and then put away for the rest of the time.  Does anyone do this for our games?

I've been looking at some decent mid-range projectors, but I'm wondering a couple of things:

1) do I absolutely need some kind of screen to put up, or will it be fine if I just project it against a white wall?
2) does the room have to be dark to get the best quality?
3) does it retain the same HD quality that you'd see, for example, on an HDTV?

any suggestions or comments are appreciated, thanks lads!

If I was you I'd stick with the TV.

To clear things up, I don't have a projector, but work does.

1) We use a wall as it is cheaper, do you really want a white wall?
The wall will need to be perfectly smooth, any flaw will show.
The projector will have to be positioned perfectly, any knock will affect the coverage, the image will never be perfect, you will never get the corners to be 90'. This will annoy the hell out of you.

2) The room will need to be dark, remember you are looking at a reflection bouncing off the wall/screen. Any light pollution will affect the image.
Either from a window, or door. You're in TX aren't you, it's sunny there isn't it. You may of course have a rumpus room or a den.

3) The image quality will depend on how much money you have. The greater distance the projector is from the wall/screen will affect the quality.
A screen will help, but what if it is damaged, creased? The bulbs are phenomenally expansive, and do not last forever.

Remember, you can have the best and biggest TV in the world, but if the signal is poor, that TV will let you know.

I'd go with what RP said.

For what you'd be using the projector for I really don't think it would be worth it.

If you went ahead you'd end up being annoyed with the decision before too long at all I reckon.

I had a projector setup last year. I loved it - watching football, boxing or grands prix on it was totally immersive. It's not as sharp as your TV and unless you have an industrial standard lamp you will definitely need blackout blinds or similar.

I painted the wall with special paint which reflected projector light better.

This is a reasonable guide to getting started http://www.cnet.com/how-to/the-big-picture-projection-screen-basics/ - best thing to do would be to see one in action and have a look at the different options before buying online. There should be specialist AV stores near you who have them set up.