Hello pewterman. I have the M22s and a fairly cheap sub (10" dayton from partsexpress). With any bookshelf speaker you are going to miss some bass. I love my M22s and usually turn my receiver to stereo mode (this sends everything below 80hz to my sub) when listening to music, but I don't always. There are times that I forget and don't miss it. That often depends on the music of course.
If you want 'clear, crips mids and highs' you will most likely NOT be disappointed in the M22s (there is a first for everything!
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I wish I could calm your fears about the Domino Effect. However, it got me by the short and curlies when I started upgrading. Now I keep telling myself there is no reason to get a better TV since I don't even have cable (and i'd rather spend that money towards a new laptop ...power book or alienware....the dilemas!).
jr