I owned/own a JVC NP5 and consider it an incredible projector especially for the budget. I have since upgraded but kept the NP5 around as a backup, and it has already come back out of the box multiple times while I had my newer projector worked on and then replaced. It has the blacks and tone-mapping of a JVC and was the last "entry" projector to support 4K/120hz, 3D, etc. Regarding form factor I'm split as I both appreciate the smaller build of the new entry models but I also liked having JVC's flagship body.
The caveats I'll call out on the NP5:
1) If you're a 3D fan, you may struggle with darker movies even at full lamp. I never had an issue with brightness in my light controlled room, but 3D glasses kill ~75% of light and as a pure 3D device the NP5 is challenged.
2) Buy parts now. This projector is aging so it's worth picking up at least one OEM lamp. If you're going the 3D route you may already struggle to find an emitter and glasses, but folks like Hi-Shock (Germany) can likely take care of you.
3) There are a LOT of interesting things going on in the DLP projector market. Yes, the NP5 will deliver the "JVC Look" that everyone wants. But, something like a Valerion or Titan Noir would deliver a SUBSTANTIALLY brighter picture which itself can lend to greater dynamic range/color.
Anyway, just my thoughts as an owner and prior user of this projector. Would I buy one today given options? I think it's more likely than not. Will I sell the one I have in storage? No, not yet. That soldier has saved me twice and it might be needed again.
P.S. Each time the NP5 has come back out, my impression has been "Damn, this trooper holds up. Is it as good as an NZ900? No, but is the NZ900 10x better? Hell no."
(NOTE: My initial post referenced 8K e-Shift on the NP5 and this was an error. This would require stepping up to a used JVC NZ7 w/laser.)