@bdp24 speaks the truth about efficiency
Speakers are calibrated at 1 watt @ 1 meter at the factory. Marketing materials are printed and distributed using this standard spec. So far, so good.
A "medium efficiency" speaker, say 85db (@ 1 watt) produces, duh, 85 decibels at 1 watt. When producing 75 db, this drops to 1/10 watt. Things are quite different inside that speaker box at those minuscule power levels. And, the sound will altered considerably.
Case in point:
We were a dealer with a wide range of speakers of various sizes and efficiencies. I decided to do a low listening level listening test with a (very) high efficiency speaker vs a medium efficiency (highly regarded) model. Somewhere north of 10 db difference in their efficiencies.
First, the medium efficiency: With volume starting at zero and slowly working our way up to just above the threshold of hearing, the sound was pretty much as we expected. Nicely rendered. But, a strong departure from its full volume levels.
Then, the (very) high efficiency speaker: Volume starting at zero, as before. Then slowly raising the volume to the same "just above the threshold of hearing" level. The music was dynamic, with some subtle characteristics of a live performance. Bandwidth was greatly improved. Yes, real bass. And, high end extension. Micro-dynamics, absent in the other example, were audible and engaging. This was simply a comparison that was no comparison.
This is not a "pitch" for high efficiency speakers, but merely a statement that low energy applied to a high efficiency driver can move things around in a more energetic (and musically satisfying) way. At low listening levels, we're experiencing the "perfect storm" of flaws in human hearing PLUS mechanical/electrical limitations of the speaker.
As far as enhancement devices (EQs, loudness contours, etc) are concerned, it would be nice if they could be placed in a tape or accessory loop so they can be switch in/out of the signal path at normal listening levels.