What will it replace.?
The 5040 replaced a BenQ W1070 - a nice 1080p pj that is now for sale. I have about 2 weeks with the Epson 5040, and I must say this thing displays an excellent picture!!! OOTB, it was good, but I've been tweaking it, and getting it more dialed in. The blacks, the colors, the clarity and the general pop of the picture is spectacular. Many people on another site are slamming this due to the HDR and other issues, but Epson will work out the bugs. I think it's great and highly recommend!! Last night we watched The Secret Life of Pets via VUDU in 1080p (can buy in UHD, but rent in only 1080p...). The picture was so good it looked 3D - the colors jumped off the screen, without being saturated. Then we watched Independence Day via UHD Bluray disk - again fantastic clarity and depth to the picture. I used an XB1S, so not using HDR, but SDR was fine with a picture that good. That movie also has some great LFE, so had the HT rumbling..
How does the 5040 compare to the lowest JVC offering? I'm going to need a projector in the next few months.