The recent story in light guns has been (possibly) an unexpected one...
Company makes gun. Company sells gun. Gamers buy gun. Gun doesn't work with new hi-tech televisions. Gamers return guns. Company fails...
Okay, so that may be a bit of an exaggeration and simplification, but the fact that the success of controller companies relies heavily on low returns is undeniable.
eReal Games has a new type of light gun that gets around this issue by working with just about any television (or display, for that matter) that you can throw at it. Instead of relying on video scan information to determine the gamer's aim, the G1 Light Gun uses an included external patented tracking camera which locates the movement of the light gun down to the millimeter. Since the aim tracking is completely separate of the video signal itself, it can be used with older TVs, plasma screens, HDTVs and even projected video. You'd have to mount the tracking camera above the projected image for it to work, but the G1 can work with screens up to 100", regardless of the type of display.
Furthermore, the G1 Light Gun is dual format, so it will work with both your Xbox and your PS2.
The brief bit of hands-on experience I had with it at E3 was impressive, but I hope to give the G1 Light Gun a full and proper review when we get one in-house for more in-depth testing.