This projector handles both issues with ease. BUT it's not without its caveats. Picture quality. Is great, honestly. It's full 1080p with fluid motion and virtually no blur. I've watched Blu-Rays, played PlayStation and football. While the clarity doesn't compare to my 65 inch 4K TV, (and honestly it shouldn't) I much preferred the 100 inch size of the projector screen. it changed the way I enjoy my content on TV. The projector has 4000 lumens, and all you need to know is that's extremely bright, and it's bright enough to watch in your main living room or in other words, a room that isn't a dark basement. I will say that if you have lots of natural lighting, you might get a little washout with the projector, but I could say our bright room affected my 4K TV (at least a little bit) and I rarely watch TV during high noon so it didn't matter much.
The caveat about picture quality, is a good screen. I projected my picture onto a white wall. I've heard, and I assume, but don't know, that projecting onto a proper screen will make the picture look even better. I found the white wall to be suitable, but there were times (like when a of black is on the screen) that I wished I had a projector screen. But again, it's a trade off for me, I'm willing to sacrifice for a larger screen experience.
Sound It has a built in speaker, but let's be honest, you absolutely must have a speaker system. That's another caveat. While I always rely on external speakers, some people don't and rely on their TV speakers. You obviously "can" use the projector's speaker, but I don't recommend it. I'm assuming if you're reading this review, you have your own sound system.