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For a more technical description of the best algorithms to do this (and more advanced compensation) automatically, see:

http://www.cs.columbia.edu/CAVE/projects/pr_any/

BTW, these algorithms have been well understood and described by the research community for many years now. I think some companies targeting the high-end segment have incorporated some of these techniques, but I'm not sure why it's not filtered down into low-end consumer tech yet.

Actually, I think there's easily a startup or two in using your smartphone to calibrate a projector. The math would only have to be slightly modified, and if you could make this process seamless, it would be pretty cool.



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