I'm not so sure about that. One of the most important speaker parameters is dispersion characteristics. If you want to have even dispersion with frequency, there is no beating a smaller midrange crossed over to a (smaller) tweeter, which necessitates a three-way design. Unless you want to put the drivers inside a waveguide, but that brings new complications to the table. This driver starts struggling off-axis already at 1500 hz. It's good compared to many other drivers of the same size, of course, but it's not good - when it comes to off-axis response in the midrange - compared to many 3- or 4-inch drivers.
If one wants to keep the speaker small, though, it would have been exciting to see an active DSP based 3-way with this as the woofer, crossed over to a 2- or 3-inch driver around 1000 hz, crossed over to a really small wide-dispersion tweeter around 6 or 7 khz. Something like that (this is just a guess as to what would work out). Now we're suddenly talking about a speaker which has deep bass, is slim and small, has no crossovers in the most sensitive region, and probably could achieve very wide and even dispersion over the whole frequency range (way beyond what a 2-way could achieve in terms of dispersion). Pretty neat!
(ping
@March Audio - I have no idea whether this would work out or not, but given that you're already making an active speaker with this as the woofer...)