phusis,
This is a terrific summary of the kind of systems that cannot be matched by modern systems. They cannot be placed in anything but the largest rooms and are quite impractical, but, they are magnificent. I've heard a few modern versions that utilize very rare drivers and other parts, as well as systems using ultra expensive reproduction drivers from G.I.P. Laboratories in Japan. There have been other companies that made drivers and horns intended to copy old Western Electric designs, and some of these copies are very good. The still existing companies, like ALE, Cogent and Goto make drivers that cost more than most people's homes (Magico used such drivers in their horn system which was their ultimate system).
I have a small slice of that kind of setup. I have twin 12" alnico drivers with pleated fabric surrounds in a Jensen Onken cabinet, a modern bullet tweeter (Fostex) and a Western Electric 12025 horn with Western Electric 713b drivers. I think the 713b is one of the finest compression drivers ever made. This system is tiny by horn system standards, but, it is very good nonetheless. I drive them with what is essentially a stereo rebuild of Western Electric 133 amps (uses vintage parts, including the authentic Western Electric input and output transformers).