That is correct. However, I would take a 2 way modern speaker such as the M22 any day over the 4 and 5 way speakers sold by Pioneer and others... I don't think that the 5.25s acting as both mids and woofers would degrade the mid performance in any way, shape, or form. That's just not how these things work.

I am the Doctor, and THIS... is my SPOON!