How do you think this system would sound?

Your proposed system should sound quite good, but I don't see how it will address your problem with rock recordings. You are correct in your thinking that rock recordings are a limiting factor, but a lower resolution system cannot create "musicality" if it's not already in the recording.

With all due respect, I question the success of any system that unduly highlights recording defects. No matter what it's level of resolution, a great system shouldn't get in the way of the music, regardless of the recording quality.

Best of luck.

Musically complete? Mainstrem rock and roll?...not heavy mental, hard rock, etc,..right? You mean rock and roll like what the Eagles play?..similar?
Here's something to try on with your current system, since I mentioned dynamics!...just try to play some Metalica, Pink Floyd, AC/DC, Van Hallen, etc through your current system, and tell me how dynamic and live sounding it is! There's room for improvement, for cetain. The software isn't the only limiting factor there, it's the gear as well. I'm a fan of the sonic attributes of your system currently, when it comes to refinement of sound,detail, transparance, soundstage, etc. But when it comes to brute dynamics, the system will fall short as is. If you don't need hard hitting dynamics and authority, you have no issues. If you like your pressent system for the rock and roll you listen to primarily, you'd probably be ok for rock on your Totem hawks I presume. Good luck

I currently own a very high resolution 2 channel audio system (Meridian 508.24 CD player, Joule-Electra LA-100 mk. 3 preamp, Joule-Electra Stargate amplifiers, Merlin VSM-SE bBAM speakers). With minimally processed, high quality CDs, the system is absolutely phenominal.

However, with mainstream rock and roll recordings, the software is obviously the rate-limiting step. I am considering a second, much less transparent system that would bring out the musicality of these mainstream rock and roll recordings without accentuating the blatent deficiencies in recording technique.

With mainstream rock and roll software, do you think that the overall presentation of my suggested system would sound musically complete?

Overall the system would sound musical, and the coponents are basically refined higher end sounding pieces. So you should expect good clarity, detaIL, immaging(with proper set up), soundstage, etc. It would lack ultimate dynamics for pure rock listening,copared to better active or even pro audio speakers.
What kind of rock do you listen to? What volume level? You might enlist the help of a good active powered subwoofer if you plan on sticking with the speakers.
If you're into heavy dyanamic music material, you might also consider either running a more efficient and higher sensitivity rig. Speakers approaching the mid to high 90 db sensitivity range(i.e, 93+) will tend to have a more effortless dyanmic to the sound, considering at the least standard passive designs, like the Totems.
Another suggestion, should you be sticking with those speakers, would be to enlist the help of an outboard digital AV Pre/pro for the hard rock and such, and cross your speakers over as "small", letting a powered sub handle the more demanding bass load. The system would jump up in efficiency, sensitivity, and overall dynamic potential...of corse, sonic purity might sacrific a tad here in ultimate terms. Or, you could just run a sub in parallel, and run it all full range(except the sub).
Otherwise, looking for higher end speakers that are higher sensitivity and efficiency would be a plus for you.
Good luck