I like iproject.com as well. I could see it go low $xx,xxx. Would make a great site like kickstarter.com or non-profit/charity maybe.
As for confusion with "eye project", come on! Seriously? With the advent of the iPod, iPhone, iCloud and iPad, perception is changing. When I hear "eye" anything now, I instantly think they are referring to the letter. It's sad, I know...