http://www.roger-russell.com/speakers2.htm#xr5
Vinyl and thanks to a previous owner, it's peeling (the tweeters were dead, everything was sans foam, one of the woofers appears to have been kicked, the screens were damaged).
I've refoamed all but the kicked-in woofer, and replaced the tweeters with some 2.5" Pioneers from parts-express, and re-clothed the grill, and cleaned everything, and fixed the crossovers. I still need to replace or recone one 12", and I've looked inside and think it might be a good "more bracing" project, and(assuming I like the sound) want to re-finish it.
Still, I only have $170 invested at present, so it's a fun project.
But I *want* to. They were incredible for their price, but their prive was $26 each. I've owned them since new, so like all my sutuff they look new: but they have no resale value and so I want to see what I can do to them. I want to re-brace them, bypass the crossover, and put a wood veneer to make "something neat".
If I can accomplish good things and learn good skills with these; I might risk my PSB 400i (which I love) in a project to make them "better".
It's a learning process
If the cost is low enough, I think yes. Right now I'm looking for disposable things to learn on. My first "build from scratch" will likely be either a Subwoofer based on the sound-splinter or JL woofer (which will later have a mid/upper added off my "aluminum sphere" project and turned into an artsy full-range), or granite bookshelves.