I've owned the Altec Lansing 45.1 speakers/subwoofer set for about a year now. This is the first time I've owned a subwoofer, and for the most part I am very pleased with the speaker quality and sound, for the price I paid. While I bought it as part of a computer package from Cybermax, I think I only paid $20 to upgrade from the standard set of speakers.
The speakers are small but fairly powerful, and when listening to a CD the music isn't tonal or shrill.
I think the subwoofer could use some improvement. Sometimes when my son is playing his games, the subwoofer starts vibrating and giving off a deep-toned feedback-type squeal. Also, the front cover of the subwoofer does not seem very durable, it has started popping off any time it is jostled a little bit.
Most of the time, though, the sound is decent, and I would definitely recommend the subwoofer over none at all. It really does add a new dimension to the overall effect when watching a DVD, for example.
The price for this set isn't bad, either. You can certainly get a better set of speakers, but you could also pay a lot more, too.
Overall, I would say the set is a decent buy for the money, and I would certainly purchase it again if my budget could not afford a more expensive set.