I'll take the other side of Brad's argument.
Unless you're using full-range room EQ (ala Audyssey), the most audible of the passive-treatment resistive, room induced, problems occur between +/- 60hz and +/- 110hz in most rooms (IME, anyway). Bassbusters are great, but their effectiveness starts to diminish below 100hz, and is generally, entirely gone by +/- 70hz, IME.
If you're using subs, you can address these thorny problems with careful placement of the subs and/or deciated subwoofer EQ (SVS or Velodyne). Either way, the subs need to be the source of the output in this mid/upper bass range if they're going to the tool used to fix the problem. This means the subs need to roll off fairly high: somewhere north of 75hz in every room I've set up.
This usually makes a good "hand-off" to unfiltered mains impossible, unless the mains have no bass at all. Something like the Sunfire Ribbon Monitor might work, but most high-end mains have sufficient bass to relegate the sub-woofer to deepest bass only. You can't run the subs high enough to fix the nasty problem that subs are best suited to fix - unless you low cut the main speakers.
That's a mistake IMO. I know many, many folks prefer to eliminate an active x-over, but at 80hz, I find that even a modest cost unit like the NHT x-2 is very, very hard to detect. Of course, this "undetectability" depends both on the system in question and the listener in question, but I've A/B'd the X-2 in some very high end chains and, with suitable program material (i.e. no bass at all), I can't hear the difference. Also, of course, YMMV, on that one.
It's entirely possible that a truly crappy low cut for the mains like that in the Velodyne SMS-1 may be a different story. I'd agree that decent active x-over is important. But, shy of that, I believe that any deterioration introduced by a decent active x-over is (IMHO) likely to be swamped by the benefits of crossing the subs out higher in frequency than is usually possible when the mains are run full-range.
A lot of people note that there are also benefits to relieving certain mains of the heavy lifting in the mid/upper bass, as well, but - IMO- that's just a little icing on the cake.
Just the other side of the coin.
Marty