Abstract: A projection display system employs one or more color modifying aperture stops, such as apodizing aperture stops, to provide high contrast, balanced color and high throughput. One projection system includes a reflective liquid crystal-on-silicon light valve positioned with a polarizing beam splitter, such as a wire grid polarizing beam splitter, for each of the primary color component light paths to separately impart image information into each of the primary color components of light. A color combiner receives and combines the primary color components of light with imparted image information to provide light representing a polychromatic display image. At least one aperture stop is positioned along at least one of the primary color component light paths to balance relative intensities of the primary color components of light.