The Customize Projection Format dialog allows you to configure the Projection display; this same dialog is used both for setting the defaults, and for customizing individual playlist items.
In addition to customizing items one-by-one, you can copy and paste formatting between playlist items. Try right-clicking on a playlist item and using the Copy this format and Paste Format options.
Click on any item for a detailed description.
You can click-and-drag the margins on the sample projection display to quickly set the margins.
You can right-click-and-drag on the sample projection display to quickly set the brightness and contrast. If you initially move the mouse vertically, the brightness will change; if you initially move the mouse horizontally, the contrast will change.