I believe the colour wheels now spin twice as fast which may reduce the effect somewhat. But for me it's not a very nice effect which is why I use a 3 chip projector. Unfortunately 3 chip DLP is prohibitively expensive (cinemas use them), but JVC DLA projectors are good. Although it looks like the newer 4K models are also prohibitively expensive :/
LCDs have typically been considered inferior for home cinema usage. The only advantage of them is the price and that they have no colour wheel. DLA is a sort of middle ground that is technically an LCD but works more like DLP. None of this matters if your room isn't set up right or you're projecting in a not completely dark room, though.
