I would play some air hockey, pinball and maybe some virtual pool if it is possible with my friends. I would definitely not work on that because my arms would hurt me to much at the end of the day.
Forget it. This is just some toy, just some bigger screen for your iphone. Don't think this would add anything new other than what you can already do with your iphone.
This is both absurd and interesting at the same time. The game play would be awesome to see, but giving iphone and even bigger head, I don't know if that is truly necessary.
They do have other types of projectors that will produce large screen. The aaxa tech m2 micro projector can product up 100". The validity of that is still to be proven..