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I'm a speaker guy (but not obsessed by it like some) and as QE knows I tried loving the low wattage approach for years. Have always liked the simplicity and smallness. I've heard the low level dynamics, etc. that have been expressed above and wholeheartedly agree with those observations. But I've yet to find the requisite high efficiency speakers that don't exhibit excessive colorations (I suppose all transducers are bound to have some distortions). And nearly all high efficiency speakers lack deep bass, which isn't high-end audio in my book. That was years ago. Are there now any low-colored, high efficiency (say 95 dB/w/m), full range (F3 of at least 30 Hz) loudspeakers?
It is interesting to me that the people with the strongest convictions about speakers do not own a low wattage amp.