Best speaker under $500


I am looking for my first audiophile system and am, of course, on a budget. Any suggestions? Thanks.
pmcmanis
I would give a serious look at Cambridge Soundworks M80's. These little guys are a 2 way speaker with a 8 in woofer. They put out amazing bass for such a small speaker. They run 450.00 a pr. You get a 10 yr warranty too!..They offer a 45 day in home trial so it might be worth your time!

Michael
If your looking to buy used, you've already been given some good suggestions. However, if your looking new, and as a new audiophile, you want to be able to listen to the speakers you are buying, not always easy when buying used. My recommendation would be the Paradigm Monitor 5v.2. Retail at $525 but you should be able to get a pair well under $500. This speaker does everything "well" with no glaring weak spots. Great soundstaging, fairly deep bass, very, very clean midrange, superb build quality and will not be real picky about what you hook it up to. It will sing with budget electronics, and sound better as your system improves. Just my opinion. I use a pair in my bedroom system. I've got some spendy stuff in the basement which sounds better, but the difference is small. The Paradigm is a steal at this price.
There is a post on EBAY selling a pair of old KEF 105/4 for a buy it now price of $500 bucks. If you got the room and the amp, I say go for it. Oh, the speaker is probably 15 yr old...
For used speakers, try Vandersteen Model 1's. For new, check out the Axiom Speakers from Canada. There are 2 good reviews of them at Soundstage.com.