Rip Van Woofer said:
I don't recall the exact review but Gene or Hawke reviewed a speaker whose drivers included phase plugs and they did a good job of explaining the principles there. Look thru the speaker reviews.
Gene wrote it, here's an excerpt:
The phase plug essentially eliminates the need for a dust cap, which in turn, reduces cone mass, permitting extended frequency response. It allows more airflow through the motor structure, which improves cooling and thus increases power handling. A Phase plug also helps to reduce on-axis beaming by dispersing higher frequencies that the cone is producing.
Note: Beware, many loudspeaker manufacturers use a quasi phase plug which looks like a phase plug for marketing purposes, but does not physically separate from the cone of the driver. These "so called" phase plugs can do more harm than good as they provide an inconsistent surface area and they also increase mass of the cone yielding poorer frequency response and linearity.