I'm looking for inexpensive bookshelf speakers.

I second the choice of NHT SB2, I think you can get a pair for $299 and are excellent clean speakers. The NHT SB3 is more highly praised in the audio press and you might be able to pick up a pair on the cheap. I would add that if you like very defined sound and don't dislike horns then you should add Klipsch Heresies version 1 pre 1980s (pretty big monitors) to your list. You can pick them up for less than $400 on agon or ebay and they never die.

I just received a new pair of Axiom M3ti and am breaking them in. $300 new, shipping included. I really like them. They are detailed with nice midrange and decent bottom to 60 Hz. They will not play to concert volumes, but no speaker in that price range can. I also love my Von Schweikert VR-1s and they can found used for $600. The VR-1s are definitely better and if you can find them, that would be my recommendation. But, the Axioms are a great sound for not much money, a real value. I run them with a classic Kenwood integrated amp for a bedroom system. I am using Atoms for surrounds in the home theater now since I tried them in the bedroom and didn't like them at all. Good luck!

I agree with your original assessment of the B&W. I also like the Epos speakers in that range. You can usually find some of their speakers that retail above $1000 for about half that used here.

The Spendor S3/5 should be on your short list.