The distance between the projector and the screen is called the "Throw Distance". The greater the throw distance, the larger the image. With that projector, in your room, you're looking at about a five foot diagonal screen (see the projector calculator link I posted before). Make sure your screen/display area is going to be large enough for the display.
Depending on how close you sit to the screen, you may notice a "screen door" effect. Essentially, this is like little black lines separating each pixel in the display. The closer you sit, the more noticeable it is. I'd guess that if the projector is 8ft away from the screen, you won't want to sit closer than 6ft.
The above is an example of the screen door effect.
All in all, I think you'll be very happy, but I'd rather you be able to test it in your room before buying (if at all possible).