1. A polarization conversion system, comprising: a light splitting element operable to receive randomly polarized image light from a projector lens, and operable to direct light with a first polarization state along a first light path and operable to direct light with a second polarization state along a second light path; a reflecting element located on the second light path and operable to receive reflected light from the light splitting element; a polarization rotator element located on the second light path and operable to receive reflected light from the reflecting element; and a modulator located on the first light path and the second light path and operable to selectively change the transmission of the first and second light path, and the modulator further operable to receive light from a high resolution spatial light modulator, wherein the high resolution spatial light modulator changes the transmission or reflection of light.