Two way vs. Three way Speakers


In terms of sound what are the differences good and bad between two way and three way speakers. I have been researching and collecting information about a diy speaker project - for example looking at the SEAS Thor design (three way) vs something like the Proac 2.5 clone which is a two way. Still reading about other options too. Best speaker I ever owned was Maggies through the 80's that sadly were not child friendly. Currently have 2 way - Paradigm monitor. Looking for accuracy, detail, clean sound (great mids and highs)that is true to recordings - for cds through modded Jolida (warmer) and MF amp. Thanks for any discussion and thoughts on this.
ladavid
Either Peter Aczel or J. Peter Moncreif (I can't recall who) once said: "No mid-range driver, no midrange - it's just that simple.
see I have trouble even knowing what is two way and what is three way nevermind understanding the benefits to one approach over the other. I need your help!

Thor seems to use two woofers? - guess this means its just a two way with two woofers? Complicated stuff with lots to learn.
I like big orchestra music with big choirs singing. So far I've not heard many speakers handle that kind of music. I think the overtones of the choir combined with the orchestra is very limiting to most speakers. Admittedly, I am new to this and I'm hoping the discussion of 2-way versus 3-way will help my search. So far the only speakers that did the job for my ears were the new PSB Platinum's and the B&W 604. Huge price difference, but both 3-way. I've hit almost every stereo shop in MI and I'm still looking.