This is ancient history, but I thought I'd follow up on this. Real life got in the way back when I first posted this, and it got pretty darn sidetracked.
Yes, the review I linked to is still pretty much spot on. A few comments of my own:
1. Yes, this is a compromise. If you're a no-compromise sort of listener, look elsewhere. But as far as compromises go, this is pretty damn good.
2. If you're looking for the equivalent of a full-blown 5.1 system, you'll be disappointed. If you're looking for something along the lines of a nearly full-range 2.0 system, you'll be impressed - this gets you a wide soundstage (not QUITE surround, although you'll get things waayyy off to the left and right sometimes) and quite deep bass. Not full blown subwoofer bass, but very good bass extension nonetheless. There are times where the ZVOX really shakes my small NYC apt. space.
3. For a situation where a subwoofer and lots of speakers is not a great option (like my New York City apartment dweller situation), this is a pretty darn sweet alternative.
4. There are times when certian male vocals are not all that intelligible for some reason. Presumably there is a recessed mid-bass region in the output, although perhaps this is peculiar to my space.
5. The highest 1 or 2 phase settings for the widest soundstage are not really usable in my experience. They sound subjectively louder and brighter to me, and the highest setting is pretty weird sounding.
Given that I found that I was doing most of my serious listening on headphones, I decided to keep the ZVOX as my main home theater speaker...
...but...
...since I already had Wharfedale bookshelf speakers and a reciever, I had the idea of moving the speakers to the sides of my living room area (where they were, actually, more out of the way than they were up front) and set up a 4.0 surround system. While this may seem to defeat the purpose of the ZVOX, in my case it's worked out well, and getting the ZVOX to perform as pretty impressive stereo pair (wide soundstage and great bass extension) is probably a better use than trying to fake true surround. I've been very happy with this strange setup as a home theater setup, and it sounds pretty decent for music as well, and it turns out I like Dolby PLII processed music much more than I anticipated.