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Your friend must be smoking something because I have a JVC 52 inch HD-ILA for 2+ years and it's working fine.
...unless your friend is talking about the lamp, then all you have to do is replace it. Depending on your viewing time the lamp would last for 1-2 years.
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Yeah, I have to second this. It looks like your friend took one of the negatives of a rear projection set and made a big deal out of it. Like BigCN said, your lamp will last about a year or two before you need to replace it. This is assuming, of course, that you're watching 8 hours of TV per day.
Jam it back in, in the dark.