To Atmasphere: I’m on my third pair of low impedance, super-inefficient Magnepans. I’ve had many other brands of speakers - Altec, Allison, Advent, AR, B&W, Definitive Technology, Elac, KLH, Klipsch, and Wharfdale.You can imagine with Manapan in my town and being on a first name basis with the owners (one of them called me last summer when my stolen bicycle turned up on Offerup, for which I am grateful) that I’ve heard them a lot . ’Some of my best friends own them’ although a trope is actually also true. They are good speakers no doubt. Imagine though what they might sound like if higher impedance: They would be less sensitive to speaker cables. The amps playing them would have less distortion. In a nutshell, you’d experience more impact in the bass (owing to the speaker cables not robbing you of impact) and smoother, more detailed sound through the mids and highs (owing to lower distortion from the amps).
In my opinion, Magnepans are the most neutral speakers made, as well as fantastic bargains.
I think @erik_squires is correct that planars suffer less thermal compression than lower efficiency cone drivers.
In my collection, my best speakers are not the high efficiency Audio Note AN-e or my DIY single driver using an Audio Nirvana driver, they are my Spendor 1/2e, Quad ESL, Acoustat Model 2, and Analysis Audio Omega. None of which should be confused with high efficiency.@clio09 Its always important to be careful about conflating personal anecdote with how things are: just because you have one efficient speaker that is bested by others of lessor efficiency does not mean that what I’m saying is incorrect. I have a similar anecdote- a set of desktop Coral loudspeakers that I bought at a garage sale for $5; they are 98dB but sound pretty mediocre; the cabinets resonate and they lack definition and bandwidth, entirely because they simply weren’t built to be anything other than cheap. Obviously the Audio Notes are not that but you get my point.
The Quads and Acoustats are not as inefficient as they appear on paper; generally speaking add 6dB to any planar’s measured values to sort out where they actually sit (some amps have trouble driving ESLs which is unrelated to their efficiency). This is because when measured, the microphone is placed at 1 meter. At that distance, a good deal of the output of the speaker is not picked up by the mic. You have be back from the speaker a good 10 feet to really understand its efficiency. ESLs do not suffer thermal compression as they have no voice coils.
Efficiency and impedance are important, but like class A vs AB in amplifiers, a lot has to do with execution. As an amplifier manufacturer that makes both class A tube amps and class D amplifiers, I see how distortion plays out in systems all the time. In solid state, you lose power as the impedance is increased but you also lose distortion. Now if sound quality is your goal then your amplifier dollar will be best served be a speaker of higher impedance; if *sound pressure* is your goal then you have a weak (3dB) argument for 4 ohms.
Higher efficiency speakers require greater precision in their construction, which makes them a lot more expensive. They were the only game in town when tubes were King; speakers had to make the most of amplifiers whose power is expensive. OTOH when solid state became practical, amp manufacturers realized the benefit of no output transformer and no filament circuit- so they could make an amp of the same power that cost 10% of the cost of a tube amp and sell it for 90% of the price of that tube amp. Speaker manufacturers saw this and realized that if they went to 4 ohms and less efficiency the lower cost to build the speaker meant they could make more money too. Solid state amplifier power is cheap, so this has worked great market-wise but its been one of the barriers between sounding like real music as opposed to a really good stereo.