Great responses. Thanks.
Interesting point alan made about speakers having even order distortion and not odd order distortion. Tube guitar amps produce even order distortion which makes a guitar sound 'fuller' and 'heavier' etc. than a cleanly amplified guitar. Perhaps some distortion in a speakers bass output would make it's bass sound 'fuller'and 'heavier'? (ie m3 vs m22)

I agree with alan that clarity and listenablity in the midrange-treble region is key. If the midrange sucks, nothing else matters.