My father in law just bought a Bose Acoustic Wave music system. We were over there yesterday and he had it setup in the living room. After seeing all the commercials and hearing people brag about the "life like" sound I thought I'd keep an open mind and see how it actually sounded. My conclusion? Monkey Ass.
Terrible, boomy lows, nice highs but no mid tones at all but it projects well. Besides the sound the thing is huge. It's about the size of a desktop computer, not compact at all. That little Phillips bookshelf system (ribbon tweeters) I bought a few weeks ago for $20 is roughly the same size and sounds 10x better.
I guess it comes down to the fact that people don't know any better. I can think of a lot of things I'd rather buy with $1000.