I still have my 3-2-1 Series II. If you get this system, here is how I suspect things will go. At first, you will be amazed at how much sound the system puts out, for its size. You will also think it sounds pretty good and goes pretty loud, for its size. You will also enjoy its elegant appearance and simplicity. After all, these are the reasons I kept mine beyond its 30 day return period.
But after you use it for a while, especially if you listen to music, you will notice that the bass is boomy and muddy. You will also notice that the highs are indistinct and unclear. Further, as you try to improve the system or add components, you will lament its poor connectivity options. Someday, you may want to watch a DVD in 720p or 1080i, but you won't be able to because the Bose only does 480i/480p.
The question you need to ask yourself is whether you want something good looking, small and simple that sounds okay or if you want to assemble the best sounding system in your budget, that is upgradable in stages and offers technology and connectivity upgrades over the Bose.
If small and simple is your schtick, offer around $500 for the 3-2-1 and see if he bites. I mean, Bose has it's target market and you may be it. Worst case scenario, you eventually build a rockin' system and the Bose gets shuffled to the bedroom.