Panzer,
I had the opportunity to hear the CAOW-1's and MBOW-1's on a few occasions. Ooheadso's comments are mostly on the mark - with the CAOW-1 offering a little quicker bass and a more open and extended high-end, at least per my experience. These Murphey design's are held in high regard by those who have tried the blue-prints. They are a fantastic way to enter the DIY world. Jim Salk has time and time again showed off his masterfull craftsmanship, so between the build/cosmetics and the sound, you got a real winner on your hands for an affordable compact monitor.
There are two particular speakers I have come across that I feel bests these designs around the same price range, namely the Dynaudio Focus 110's ($1400 retail) and the Stone Image Audio Rothschilde A2's ($1360~ retail). Both of those speakers do the audiophile mumbo jumbo VERY, well also doing the music justice without any discrimination. While their sonics are arguably a level beyond the mbow and caow's (with premium parts), their build/appearance wont even approach what Salk can put out.
All of the above is of course, my humble opinion..