I could describe the original problem as sounding muffled, dirty, and some echo.
At this point, I've found nothing wrong with the speakers themselves. No visual damage, the mid / woofer cones move smoothly without any friction or rubbing, polarity checks out good.
I have improved significantly the sound by:
Removing the plinth / spikes, placing the speaker directly on the floor (ceramic tile)
Speaker placement, by separating from sides and rear wall based on the standard formulas, and some tweaking
Tightening the screws on all of the drivers, some were loose
Plugging the vent port with a rolled up towel (don't have the cap or short tube)
Adding more acoustic panels behind the main speakers (dead end)
Moved the Velodyne subwoofer to the rear wall, placed in the center.
Also, I found that my 55" Mitsubishi projection TV (big ol' box) is rattling quite a bit, and being between the main speakers I know it's affecting the acoustics significantly. Not much I can do until I replace the TV later this year with an LCD flat panel.
Thanks,