@earthbound --
Higher efficiency needn’t see the necessary use of horns. While I’m not sure there is a U.S. distrib for these, the Stage Accompany M57 speakers are excellent and not very well known around here. They’re 97dB sensitive in the passive version, and around 97/100dB actively (woofers and ribbon sensitivity respectively). Locally they retail in the vicinity of $15k/pair, which is very fair considering the competition from JBL and others - against which they compare favorably, I find. Ideally I’d pair them with higher eff. subs, actively all the way through and with the SA1205 woofers high-passed in the 80-100Hz region, but passively and unassisted they’re still a very neat package.
I like what’s basically a 2-way design in a main speaker, which the M57’s are. A higher efficiency solution with large air radiation area will typically grant you the opportunity to cross over lower to the woofer section, while maintaining HF-extension from a single driver element that takes over. Should augmentation be needed in the frequency extremes the crossover points here are usually outside of critical areas; that’s the case with my own setup that houses 2-way high eff. main speakers that are augmented at ~11.5kHz on up and ~85Hz on down. HF-augmentation is not needed with the M57’s from Stage Accompany, although the limited vertical dispersion of the SA8535 ribbon (and its very clean, lack of smear sonic properties) necessitates for one to sit with the ears level to them.
Joseph Crowe’s designs have been mentioned - they look very interesting, not least these. I have no personal experience with them, but they are made in the U.S. (not the drivers, which are mostly EU-based) and by all accounts should give you the benefits of (very) high efficiency - with excellent craftsmanship to boot. I’d love to listen to them, and paired with SET’s they’re no doubt very capable sounding.