I have been using a projector for my patterns for a few months. I have an ultra short throw as my sewing room has a high ceiling - and I have an IKEA up down table, which is brilliant for getting the height just right.
Pros: Ultra short throw is cheap so set up costs were only £56. As you have already said, it's makes PDF patterns very cost effective. It's convenient to be able to buy the pattern and immediately start the sewing process. Not having to store the patterns is another bi bonus. I really like cutting out directly on the fabric, with pins and weights. I save a lot on fabric, as mostly cut flat now rather than folded fabric. Makes pattern matching so much easier, as there's nothing in your way.
Cons: There is a learning curve, initially I questioned whether it was worth the hassle or not. It would have been much easier if I had someone to help me through the initial stages, I mean, in person, showing me the basics. It actually isn't that difficult, like all computer stuff, once you know, you know. Alterations can be tricky. I mostly only need to shorten patterns and now do it on the table (very simple to lengthen or shorten). However, must stay focused and make a note how much you are changing a pattern. I've just cut out the Lane Pants - I nearly forgot to shorten one of the pieces! So must make a note somewhere what changes have been made for future makes - Use Stash Hub, or notebook with all the changes. another way is to project the piece that needs altering on paper, and use that to make changes. I also use Affinity software (similar to Inkscape and Illustrator). This is the best way, but unless you are very proficient with doing this, it's another learning curve and can be time consuming. But once done, it's done.
I use Project & Cut for calibration and absolutely love it. I used Pattern Projection (think that's the name), it's free, but I didn't find it as user friendly.
Too much light can be a major issue. My sewing room is north facing, so that works in my favour. However depending on the fabric you are using, it can be a challenge.
There is another thread on projectors here that I've commented on. Might be worth finding that.
On balance, I think it's been a good investment of time, as I do like to learn new things and I quite like tech. However, I've kept all of my patterns and if I already have a pattern, I will use that rather than the projector.
I missed this post, so you may already have made a decision one way or the other by now. Would be interested to know how you are getting on if you decided to try.