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Rob, yes your math is incorrect. You're mistakenly multiplying by the level of each micro mirror's precision (1024). The mirrors don't flick once for each level of light per color per pixel. They flick once TO the specific level of light to let out. 10bit simply means a more precise micro mirror that can accurately support 1024 distinct levels of light through vs just 256. The speed only has to double for the pixel shifting.
Viewsonic