So what exactly does the M810 offer us above the cream of the crop 1080p projectors in terms of genuine improvements to justify the extra $120k or so which it would cost to buy?
The M810 is a light cannon. It's got either 2000 or 4000 lumens, I can't quite remember which. Coupled with the fact that it's a high contrast, Phelps calibrated, projector, I can see that there is a niche market for it. But I'm no expert at this end of the market. I'm assuming that at $185k, you have a few options.

Lumens don't justify that price. And Mr Phelps doesn't justify that price either. What you are paying for here is Meridian's development costs...
But surely Meridian makes the best DVD players?

The best *sounding*... well at least until the new codecs came along...

There was much sarcasm in my post. I wouldn't dispute the fact that Meridian make the best sounding players though. But for video, we know you can do better.
Yeah, I noted that.
I had Gordon Fraser round yesterday evening (UK Lumagen distributor, calibration legend, and a really nice guy) and even he was taken aback at how good the Star Wars PAL DVD looked with my Oppo 980 / Radiance / JVC HD1 chain. Indeed, it is an incredible transfer and the upscaled result was scarily close to, if not better than, a number of the poorer HD transfers I've seen. The Oppo + Radiance combo is, of course, less $$$ than the cheapest Meridian DVD player. Sound decoded in my G68 is rather good too...
Gordon is a great guy. Highly recommended to anybody who can use his services in the UK.
Mark