A projection TV system comprising an illumination subsystem providing a single illuminating beam, a modulation subsystem, and a projection subsystem, wherein said modulation subsystem includes at least two transmission light valves, each of said transmission light valves directly passing at least a portion of said single illuminating beam to said projection subsystem, each of said transmission light valves being disposed at a first path length from the illumination substage, said first path length being equal for all transmission light valves, and each of said transmission light valves being disposed at a second path length from the projection subsystem, said second path length being equal for all transmission light valves, wherein said light valves in said modulation subsystem include three transmission liquid crystal displays, a first of said liquid crystal displays modulating red light, a second of said liquid crystal displays modulating green light, and a third of said liquid crystal displays modulating blue light, wherein said illumination subsystem includes a light source, at least one reflector means for collecting light not passing to said modulation subsystem, and a condenser lens system for passing light to said modulation subsystem, said at least one reflector means redirecting said light not originally passing to said modulation subsystem to said condenser lens system, wherein said light source includes an inner and an outer envelope with plane mirrors within said outer envelope to direct reflected light to at least one image position adjacent said light source, and wherein said reflector means includes reflectors to collect and redirect light to at least one of said light source or said image position for passage through said condenser lens system.