Saul Linkowitz
This is the basis of Saul Linkowitz's design.
1 - A panel with two 8 inch drivers and a 1 inch dome tweeter. It is an open baffle design and the unit might mount on a speaker stand or hang on two thin ropes from the ceiling to bring the tweeter to ear height or slightly above. The panel should have a distance of at least 2.5 ft (0.75 m) to any adjacent wall.
2 - A woofer with two 12 inch drivers arranged for dipole radiation. The woofer should be positioned at the same distance from the listening place as is the panel, and preferably along the side wall, for optimal summation of sound outputs in the crossover frequency range, and minimal excitation of room modes.
3 - An active crossover/equalizer for three power amplifiers of 50-200 W each. The amplifiers must have identical voltage gains, <0.1% distortion and >20 damping factor.
This requires three amps and an active crossover to compensate for the Bass loss of the open baffle.
Saul Linkowitz is very well known in the audio world and has been one of those trying to get away from box resonance, and go open baffle with a heavily equalized bass compensation. This technique requires drivers with a long and linear throw, high xmax.
You said you wanted it cheap, so that's what I did. With no eq a nine sq.ft. baffle would be the minimum to get any bass. At the end of of it all, you will still have a bad set of speakers.
Why don't you buy these drivers?
http://www.partsexpress.com/pe/pshowdetl.cfm?&Partnumber=295-305
And these tweeters?
http://www.partsexpress.com/pe/pshowdetl.cfm?&Partnumber=275-070
You can make a decent cheap speaker out of these drivers, which from my dead reckoning should be able to be small ported enclosures. A crossover with few parts should be possible. It will be a little more money, but not by much, and the speaker will be a hundred fold better.
Are you interested in moving forward in a sensible fashion, instead of being upset that the laws of physics will not change just for you?
I'm not putting anymore time into this project, unless you are willing to move forward in a sensible fashion.