Will this work?

[koover]

Ok,
Total newbie on this subject and have no clue what I'm doing in the sense that obviously I've never ran with a projector and screen before. I've read up a lot on the net but still would rather hear from you guys who already have a projector/screen set-up.

My vision

1)Would ceiling mount the unit
2)Would be approximately 12-15 feet from screen (how big of a screen could I purchase for this distance?)
3)Screen must be a pull down. Would pull down in front of wall unit niche that I currently have my system/TV set up in. Not even an option to do anything else.
4)Will be in a family room, not dedicated to a seperate theater room
5)Obviously will have light during the day seeing it's a family room
6)I live alone. Have no one else to worry about other than guests in case this was a factor.
7)Narrowed my choice down to the Epson 3010 or 5010 2D/3D unit unless anyone has a better choice for the money.
8)I figure my budget for projector and screen would top out around 5K.
9)I don't want to skimp on the screen. A quality pull down screen looks to be right around 2K, unless a recommendation could be suggested on something I'm missing.
10)Equipment is in my sig except I now have a Panny DMP-BDT210P bluray player and use my PS3 for 3D

Would this work and does my current living configuration accommodate something like this if I moved forward?

I am open to any and all suggestions. Any and all advice will be gracious and would be accepted with an open mind and with gratitude.