When an OSnap is being projected in line with the current view (so in the Front viewport, if the thing being snapped to is at wY=10 and is being projected to wY=0), often times the center point of the cursor is lost, so it is hard to see exactly what you are snapping to.
In the attached file, with Project on, in the Front viewport try snapping to the mid or int (apparent) of the two lines. Over here the cursor center point is lost. It returns with Project off.
ProjectOSnapPoint.3dm (219.5 KB)