yeah it appears your projector is somewhat high in the lag department. check this link out.
http://www.projectorcentral.com/epson_5020_vs_panasonic_ae8000.htm
the funny thing is, the ae8000 is the projector i have heh. as you can see from their test, the ae8000 goes from 67ms to 34ms from cinema to game mode. that is nearly half.
it looks like your projector has a fast processing mode as well though which cuts it from 84ms to 50ms. you should give that a go and see how it feels.
and remember, if you can't notice the delay, then that is all that matters. even though my projector isn't quite as lagless as my asus monitor is, i can't notice any perceivable differences on it for the most part. i don't use my asus monitor at all anymore and haven't in nearly a year and a half, but i bet if i did go back to playing on it i might notice a SLIGHT delay. but i've been playing sf4 and killer instinct no probs on my projector and not noticing anything.
also, check your avr to see if there is a game mode. mine has one and that also makes a boatload of a difference.