Athena Technologies AS-B1.2 ($180/pair): Athena Technologies is synonymous with "big, big sound at a low, low price." The AS-B1.2 features the company’s 1" Teteron-dome tweeter, renowned for its clarity, along with a 5.5" injection-molded polypropylene woofer that’s said to deliver bass to about 60Hz. I’m still amazed -- not only at how loud and clean the AS-B1.2 will play, but at how balanced it sounds overall. Athena does a great job of delivering high-end-type sound and great build quality at a rock-bottom price.

Paradigm Atom Monitor v.5 ($249/pair): This iteration of Paradigm’s classic Atom design sees the price rise from $229/pair to $249/pair, but it’s still worth every cent. The Atom Monitor produces a huge volume of sound, along with impressive bass weight that defies its small size. Furthermore, the Atom Monitor’s almost uncanny purity through the midrange and highs will, I think, help make this new small speaker a classic. Paradigm has made their name by offering high value along with high performance, and the Atom Monitor carries on that tradition.

PSB Alpha B1 ($279/pair): PSB’s Paul Barton is a legendary designer revered for coming up with speakers that deliver performance that far outweighs the price. The impressively built Alpha B1, a two-way with a 5.25" woofer and a 0.75" tweeter, delivers bigger and better sound than its small size and low price indicate. The entry-level Alpha B1 won’t necessarily rival cost-no-object designs the way the company’s more expensive models can, but it will give you a strong taste of what the company’s best speakers sound like at a rock-bottom price. In fact, those first speakers I owned in 1981 were PSBs -- but as good as they were back then, the Alpha B1 would clean their clocks in every way.

Axiom Audio M2 v2 ($290/pair): With the exception of its lightweight bass, this is the most accurate inexpensive speaker I know of. It measures remarkably flat, and that translates to an exceptionally balanced and detailed sound, from the upper bass through the midrange and highs. Performance this accurate for only $290/pair was unimaginable not that long ago. And if you couple a pair of M2 v2s with even a small high-quality subwoofer, the level of detail and refinement you can achieve can put to shame many speakers costing $1000/pair or even more. Like Athena Technologies, Paradigm, and PSB, Axiom Audio knows the secret recipe for creating topnotch sound at a low, low price.

Athena Technologies AS-B1.2 ($180/pair): Although its specs say that the AS-B1.2’s bass extends no lower than the Infinity Primus 152’s (see below), the Athena’s bass sounds deeper and more full-bodied. Detail isn’t quite as good as through the Infinity, but the tonal balance is slightly more neutral, and the Athena is more forgiving of lively rooms and inexpensive electronics. And for a small speaker, this one does a pretty respectable job with rock music.

Infinity Primus 152 ($198/pair): Widely available and frequently discounted, Infinity’s little Primus 152 performs much better than its price suggests. The low end extends below 60Hz, so it can stand on its own without a subwoofer, and the midrange and highs are detailed and handle delicate passages particularly well. My only caveat is that the 152 isn’t terribly happy in lively rooms or forgiving of overly cheap amplification.

Magnepan MMGW ($299/pair): For something completely different that will have your friends asking lots of questions, try these wall-mounted planar speakers. With a 100Hz low-frequency cutoff (a subwoofer is required), relatively low efficiency, and unusual placement needs, they aren’t for everyone. However, there’s nothing else on the market for under $300 that comes close to producing the MMGWs’ combination of soundstaging, sense of space, and vocal clarity.

Hsu Research Ventriloquist VT-12 ($299/six): For those looking to do surround on a budget, this little system trounces home-theater-in-a-box systems and those little cube speakers we all love to hate. The Ventriloquist VT-12s’ sound is smooth and forgiving of budget amplification, and they play loud enough for most rooms of small to medium size. Add a small subwoofer, and your friends will think they’re listening to a couple thousand dollars’ worth of speakers.

SVS SBS-01 ($225/pair): The SBS-01 is utilitarian in appearance but has a sound worth twice its price. SVS may be better known for their subwoofers, but this new bookshelf model lives up to their reputation. Small enough to put on a fireplace mantle, a pair of SBS-01s can fill a good-sized room -- they fairly beg to be played loud. The SBS-01 strikes me as a very good speaker for those who listen to rock, hip-hop, and dance music -- especially if you add an SVS sub.

Axiom M2 v2 ($290/pair): Axiom’s slightly larger M3ti was the first "real" speaker I ever bought, and since then I’ve always owned at least one pair of Axioms. Delivering a very natural sound, the M2 v2s feature titanium tweeters and aluminum woofers, and produce a good soundstage with clean imaging. Bass heads will notice the lack of their favorite frequencies, but everyone else will fall in love with their music again. Friendly customer support, and custom colors and finishes, don’t hurt either.

plus . . .

Etymotic ER-4S headphones ($330, often discounted to under $300): If I could spend only $300, I might well forget about traditional speakers altogether and get these great-sounding in-ear phones. With Etymotic ER-4Ss, an iPod, and a quality headphone amp -- such as HeadRoom’s Total BitHead or Micro Amp -- you can bring your hi-fi with you wherever you go. The detail is stunning and, when the phones are inserted correctly in the ears, the bass is plenty deep. The Etymotics offer 23dB of isolation, which is enough for air travel -- just close your eyes and be alone with your music. Some people find in-ear phones uncomfortable for long periods, but custom ear molds can solve that problem.