So low-end projector specs are like amplifier and loudspeaker power ratings .. that makes sense. Much as 2K
ANSI lumens is exactly what it is, so 200 watts
RMS of pink noise into an 8 ohm load is exactly what it is (sort of).
But 100 IREs is 100 IREs, and 7.5 IREs is 7.5 IREs, no matter where it's coming from. Though you're right, computers do the 0 IRE thing, I think.
There's something to scaling the image using an ourboard box, since the scaling circuits in most low-end projectors are pretty crap. I need to do that at the church sometime.
The screen is too small and the wrong shape. I'd be thinking about a 9x12 at smallest, not knowing much about the space or show.
We need more information about how whatever-it-ends-up-being will be used. What's the artistic goal? What light levels does it (the screen) have to overcome? What low-light conditions does it (the camera) have to endure? You can rear-project? And so on...
Welcome, by the way, to the world of broadcast! (though you've arrived here rather unintentionally)