The L1 speakers have been both trashed and praised on this forum and on others.
I played quite a few gigs in different venues with two L1 Model I double bass packages as the PA (a $4,600 value). It sounded okay although quite thin and artificial, almost hollow. There was also a lot of mud in the low end / low midrange.
I bugged the guy who owned the PA enough that he eventually sold his system and bought a pair of QSC K10 (a $1,500 value) as a replacement. He couldn't thank me enough when he heard the difference. I knew the Bose weren't that great but even I was surprised by the difference. Tight and abundant lows that don't bleed onto other frequencies, a beautiful vocal midrange and detailed yet not harsh highs. Compared to the Bose system as I remembered it was like someone had pulled out a pair of socks from my ears.
The Bose also were a pain to setup compared to the QSC. The towers come in 2 pieces and you also have to haul a set of heavy bases (which is where the amp is located) and 4 bass modules. Then you have to plug these modules to the base and finally connect the whole thing to a mixer. The QSC are 2 powered speakers you put on stands, plug a mixer into and you're done.
As for the Wave technology, my friend has one of
these in his studio. The first time I heard it I thought Bose had finally released a decent product, then I learned how much it sells for. It is AT BEST worth $200, not $500.