Yes, I did it on a budget.
Here is the run down.
1. Used seats from a closed down movie theater. $10 each
(Had them reapolstered for $30 each - Seats new would have cost $600 per seat)
2. Sheetrock screen less than $10 (Used Behr ultra pure white flat and had Home Depot convert it to Behr "Gray Tropics" flat
3. Rear and side sheetrock walls Glidden satin black (I have little cousins that come over and I was scared they would mess up a wall painted flat)
4. Front sheetrock wall Glidden flat black
5. White ceiling tiles from Home Depot spray painted using Glidden flat black
6. Purchased lcd projector from pawn shop over 5 years ago
7. Front speakers were a birthday present from my Dad
8. Rear speakers purchased as demos from Hifi Buys
9. Carpet purchased as a remanent
10. Projector mount less than $10 from Home Depot. (The mount for my projector would have cost way over $200)
I initially was going to use curtain blackout fabric for my screen but it will only go so wide.
Sheetrock is cheap and doesn't wrinkle, plus you can repaint it.
When people see my screen, they don't know that it's sheetrock.
Here is where I got the idea the instructions for someone to build a sheetrock screen.
http://armorform.com/page27.html