Completely in-wall speakers generally sound like poop. There are a few companies out there that may be able to pull it off (Energy Veritas, Snell) but you'll be paying HUGE sums of money for those bad boys.

Axiom's new W series has split the difference. You don't get the completely in-wall stealth, but you DO get the sound quality AND the cost savings. Seems like a perfect compromise to me.