About 2-3 years ago, James Loudspeakers seem to have made a paid campaign for public recognition at the likes of Stereophile, as well as other publications. Asides from glossy ads, it seems as if they did not push themselves enough to get an "advertising review" at the standard publications. For what it seems to me, when I see what is advertised in Audiogon and the James website, their products seem to be solid, heavy cabinets and concrete execution. What called my attention the most is their back breaking subwoofer which has two drivers, one sealed and the other outside, should I call it isobaric design?
One would be surprised at the quality of things that are available but are not well known....too many companies competing for the same pool of jaded audiophiles and too many ways of making themselves known. I would not mark them out of contention right away.... of course, your brother in law's assumption of James being the "it" company might be somewhat overblown.
He might need to be exposed to some other better known heavy weights and perhaps we all should check out what "James'" has on their pockets.
They are still afloat after two or three years, which makes me think that they are customers out there who purchase their speakers.