One benefit of LCD is that it has historically delivered better color saturation than you get from a DLP projector. LCD also delivers a somewhat sharper image than DLP at any given resolution. The difference here is more relevant for detailed financial spreadsheet presentations than it is for video. A third benefit of LCD is that it is more light-efficient. LCD projectors usually produce significantly higher ANSI lumen outputs than do DLPs with the same wattage lamp.
LCD projectors have historically had two weaknesses, both of which are more relevant to video than they are to data applications. The first is visible pixilation, or what is commonly referred to as the "screendoor effect" because it looks like you are viewing the image through a screendoor. The second weakness is not-so-impressive black levels and contrast, which are vitally important elements in a good video image. LCD technology has traditionally had a hard time being taken seriously among some home theater enthusiasts (understandably) because of these flaws in the image.