Bookshelf speakers on a budget

I'm leaning toward to Dali Zensor 1's over the ELAC Debut 6's.

The new ELACS at $500 are out of my range (I have hear about the defective colored UB5s for $00, and if they are around by the time I purchase I might get those)

hfarrior3,the Elac B5's are around $225.00 a pair delivered BUT I listened to them & chose to spend an extra $150.00 on the Zensor 1's because I felt the treble was a bit sweeter & imaging was MUCH better.The Elacs sound stayed between the speakers where as the Dali's imaged well outside with the right recordings.JMO,YMMV.

With all due respect hfarrior3, I asked you in an earlier post what amplifier you have as this is what is critical in selecting a pair of speakers.  I also advised to watch out for rear ported designs, as these will require stands too.

You have not advised which amp you have but I see that you have narrowed it down to the Dali and Elacs.  Good speakers but at 6 ohms and 86/87db, not exactly efficient and will require some good power to make them sing.  They are also rear ported and will need to be used on stands to get those rear ports away from the wall.

If you feel you can drive them and stands are not an issue, then both are nice choices.  Pick the one that sounds best to you as their specs are nearly identical.   Good luck!

Right now I'm using a Jolida FX-10 that my friend is letting me borrow. When I get enough money saved up I'll either buy his or look for another option (I've read mixed reviews on the FX-10). I'm looking to put the speakers on a credenza so they will be about 1'6'' away from the wall, will this be enough space?

18" from the front of the speaker or the back? Proximity to the wall generally impacts bass response. Some speakers are more sensitive to placement than others. Some speakers are designed for near wall placement, and others benefit from being further in the room. 

(I prefer the smaller speakers I own farther from the wall on stands.)

A couple of things you may want to consider:

Box speakers come in ported and sealed designs. Some may fit your needs better than others regarding your placement options. There are articles/posts online that explain the difference, etc.

The other issue is power. Different speaker designs require different amounts of power to get the most from them. For example, if you know you are buying a 10wpc amplifier, I'd buy speakers with that in mind. Some 'bookshelf' speakers are not efficient enough to be driven well by 10wpc. On the other hand, you won't need a ton of power for efficient speakers. You can sometimes meet the minimum power requirement listed for speakers, and although they sound good you will not get the best of them.

It's not good vs bad- just different. The thing that matters most is that you're happy with your gear/music.

Hope this helps