The Merlin is a fine speaker, but the Dunlavy IVs, if set up properly in a reasonably large room, will perform at a level that is equal to or better than the majority of high-end speakers today.
Things to remember about the Dunlavy speakers...They are very narrowly focused, which means that there will be an amazing but relatively small sweet spot for critical listening. They may sound a tad bass shy, albeit very tight and tuneful bass, unless you have an amp with a high 'damping factor'. They are incredibly revealing of your electronics, cabling, tweaks, etc.
Overall then, the Merlin is a better 'plug and play' speaker, where as the Dunlavy speaker has higher-end capability but must be 'worked with' to get it all to come together.
