'Open baffle' usually refers to a cone speaker mounted on a baffle with an open back. Quite often this means there are no sides to be baffle either but that sort of depends on who you talk to.
Technically speaking all planar speakers are open baffle by definition. However the term usually does not refer to them.
Open baffle speakers can have multiple drivers. The old Carver Amazing is an example. But most open baffle setups you will see usually use a 'full range' driver of some sort, a Lowther, PHY or perhaps a Fostex.
I saw a very convincing setup in Nelson Pass' room at RMAF about 3 years ago. He showed full-range driver that looked like a Lowther, and there was a second driver mounted on the baffle that was assisting with the bass. The speaker had very convincing bass and overall his system was quite musical. I seem to recall that he mentioned something about the dynamic range being limited in some way but don't quote me on that.