I've been using the Bose L1 Model II for about seven years now. I've yet to receive a single complaint. In fact, most people love them. At each event I have at least one person walk up to the towers, stand there for a second, and then ask me how it works. The voicing (with the supplied EQ/Mixer) is very pleasing at high volumes. I've never had the same reaction with traditional stick mounted 2/3 way boxes (Meyer UPA, JBL STX, etc).
You can purchase PA speakers with objectively better performance, however, all that matters in this line is how the crowd reacts. For events under 300-500 people this category of speaker rocks.
If you're doing this for professional work, the form factor alone is worth it. if you want the loudest speaker you can get for parties, look elsewhere. You can find the actual measurements of the towers and bass components on their website if you're curious. The best way I can the sound is that it has the characteristics of a traditional "hifi" loudspeaker, but much louder. Most people expect the resonances and harsh sound of horn loaded mid-tier PA speakers.