While LED doesn't use a color wheel it still does sequential color and can cause rainbows. Although, faster and less common it can still happen because it doesn't display all color simultaneously.

I think the Sony if you are not doing a 2.35 screen and don't mind going over budget little or the Epson if you are doing 2.35, the lens memory makes things a lot easier. I do think if JVC got their NP-5/RS-1100 closer in price to the Sony or Epson it would be my choice.