Thanks for all the input guys, I don't have much free time and it's taking me ages to research all the suggestions here.
Thought some more about the color, that red above (and below) is too much, I think a more neutral wood color would be safer long term. I'ts probably just that years ago I fell in love with a pair of headphones with a similar finish:

Nice on headphones, maybe not a major piece of furniture though, I want others to enjoy the looks as much as I will enjoy the sound

I want it to be easy clean and low maintanance with that hard glossy surface though. Probably.
Found this pic that I assume is a polyurethane:

I like that finish

Polyurethane is a stronger and more durable top coat but getting a glass smooth finish without brush marks is extremely hard to do. Call around local cabinet shops and see who has a spray booth, with the economic slowdown you may be able to get a professional to spray a catalyzed varnish for a good price.
Wayne
Going to try and find a competent shop in Adelaide to trust...

A good poly finish is the leading contender at the moment, if I can find someone to do it. Have to make a bunch of phone calls.
I had stain rags catch fire last Friday in my shop after they had been spread out to dry for 24hrs...had I not seen the smoke pouring out of the trash box next to a pile of wood everything I own would be gone right now.
Man that's scary! I'm glad it wasn't more serious, a great learning experience for sure. I once had a similar thing happen with a faulty LiPo battery pack, was sheer luck I walked in just as it was starting to spew smoke.
Steve.....as an added note. The much overlooked Formby product line has the same attributes as the 1-2-3 process. I've used this product for years, including high end furniture. Simply wipe on, dry, fine steel wool between coats, and presto ! This is a no-brainer product, has a hard durable finish, and unlike the poly coats, very (make that), VERY easy to repair !
I'm very interested in this and want a sample of all the products mentioned in the thread really, but being in Australia it's very hard to get things, there is certainly no where local that I know of to see these kinds of products. Harware stores have very few options for wood finishing, and all stores carry the same few product lines.
Is this the Formby's you speak of:
http://www.formbys.com/products/index.cfmWhich product do I want?
You might also want to check around and see if anyone near you can apply "Acrylic Urethane", application is really best left to pro's however, you need special respirators. Its used for cars among other things. Its an idea anyway.
Will do, is that the same thing as Polyurethane? If not, how is it different?
Attempting that finish without the proper equipment, a person who has done this before to success, is a major waste or raw product, and a pain in the a**. I had the speakers refinished to a simpler gloss black and love everything about them now. They are awesome. Just got a bit ahead of myself in initial look and feel.
http://www.hawthorneaudio.com/forums/viewtopic.php?f=2&t=2399
Wow Johnny, I was subscribed to that thread from the 1st page back in Sep 2008. It was linked from somewhere on AC. We were all looking forward to the finished speakers and just felt terrible for you. Did you end up getting your refund?
Luckily I only have to deal with getting a finish now, the hard part (getting a flat pack) is done.
I hope I find a pro locally.
In other news I took the 4 sub drivers out of their boxes to drill the pilot holes for fixing them in their baffles. I'm not 100% sure but I think the holes in the baffles are just a hair too small fr teh driver to sit properly, the arms f the basket touch the corneredge of the front of the cut out in the wood beforer the rubber surround of the driver is flat on the baffle.
Not much, like 1-2mm.
It may tighten up flat, probably would, and probably isn't a problem at all but I'l put a 1/16" or so round over on that edge anyway, and a huge round over on the back side f the baffle to open up the rear of the driver as much as possible.
BTW Danny, are the fixing screws included in the crossover and bits you're sending? If not, are just plain wood screws ok? Brass might look nice
