Hey Goatman,
When I was playing with my speaker setup a couple of years ago, I ended up with the music sounding like it was coming out of my own head. It turns out I had mixed the polarity of the left and right speaker so they were operating out of phase. It could be that your speakers are wired backwards from each other inside - you might try reversing the + and - on just one of them and see what the sound is like.
As for the crossover, there's nothing wrong with two way. However, getting them to match can be tricky, so as long as you have patience and the ability to buy more parts to tinker you'll be fine. It sounds like you're planning a simple crossover (1st order), which rolls off at 6dB per octave. If so, you'll want to leave a gap between the two crossover points because the slow rolloff will provide quite a bit of overlap that will fill in the gap.
You'll still likely have to balance the power between the tweeter (efficient) and sub (inefficient), which means you'll probably have to stick a 4 ohm or 8 ohm resistor on the tweeter inline with the capacitor - better yet an L-pad fader so you can adjust it just right.
If you're interested in really getting into it, we can spew out more information.
Enjoy!