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There is a group of audiophiles out there that believe simplicity is king. Instead of two- or three-way tower speakers, or high end subwoofer/satellite speakers, they believe the most accurate musical reproduction comes from a single speaker.
It takes a very special speaker to reproduce the entire audio spectrum. Most well regarded full range speakers cover from about 80 Hz to 14,000 Hz (this is a detriment, since you lose the bottom octaves but gain in other areas). The advantage of using one speaker to cover the all program material is the production of unparallel imaging and soundstage and true 'point source' sound. Some full range fanatics go the vintage route, while others choose to go with new speakers. Either way, you will be rewarded, and will likely never go back to the complexity of multi-driver speaker systems.
Very few people stay with single driver speaker systems because they are incapable of good full range reproduction. The distortion is always high except over a limited range and they tend to be fragile. Most people tire of the limited range and get rid of them.
The exception is the people who listen exlcusively to very old recordings or material like doo-wop with no very great bandwidth. For such people, single range drivers work, but a regular 8" or 10" guitar speaker will work just as well for them too. Plus they are nearly indestructible at domestic levels.