I recently upgraded my speakers to a lauded model on this site (Revel M16), and I can hear and understand the virtues of it. However, they seem to lack an element that really shined on the previous model that filled their place. They only start to have the necessary presence when the volume is cranked up to a certain level. At high volumes they are world beaters, but the problem is that at moderate volumes on symphonic orchestral recordings everything is thin and weak sounding. With typical studio recordings this isn’t as much of a problem.
I am using a very high power amplifier, and the previous model I was using (Philharmonic Affordable Accuracy – Parts Express Mod) is less sensitive and needed a good amount of power so I don’t think the differences in sensitivity is the issue.
Is there something to the idea that some speaker models sound better at lower volumes, and is there a theory about why this might be the case (something about the difference in frequency response, crossover design etc.)?
I'm no expert, but IMHO this is somewhat of a paradox and a curse of a better loudspeaker and our ears cannot be trusted on this. In a similar fashion, when you have a better car it will feel like standing still when actually going over speed limits. I think this is due to combined mechanisms of perception and the way we make sense of it. But when we look at the speedometer we can trust it and suspend disbelief.
But when it comes to loudspeakers, we may not always have a correct yardstick, if you will. Better speaker with less nonlinear distortion and better bass extension tends to sound "less loud", ie you need to crank it a bit in order for it to to "feel" correct. Maybe some of the experts on here could shed more light on this matter, but I think it's all a psychoacoustic effect.
Chances are that you are objectively not going "above the limits" of loudness with the upgraded speakers and it is just a subjective phenomenon.
When it comes to bass extension, our mechanisms of auditory perception tend to compensate for the "missing fundamental" and fill in the sound that doesn't really exist by relying upon the upper harmonics we hear. On the other hand, when we have speakers with more bass extension and the fundamental notes are actually playing, we may think the sound is too loud when in fact it isn't, only the fundamentals require more power and we perceive less of the upper harmonics when we look at the equal loudness curve, i.e we may perceive that we have too much bass when in fact we have to little midrange. The absence of distortion is another factor. And then there is a visceral feel of the bass where we make sense of it by using other mechanisms of perception. Also, it is room dependent. More bass extension excites more room modes which can get loud. And then there's directivity, setup and other things which are depending on speakers. As well, the fact that you are using a very high power amplifier doesn't mean that you're using even a fraction of it's power. Or that you are, but it isn't as loud with lower sensitivity speaker. I wouldn't worry about that and just compensate by turning the level up a bit.
Bottom line for me would be, if you have a better speaker, go for it and listen to it at appropriate levels. This is easy to discover and also track dependent. You also have a good chance that your neighbors will perceive it to be less loud as well, of course within reasonable levels...