Yes. It depends on the sub, sats, and implementation. I heard a Classe/B&W implementation of the B&W PM1's and PV1D sub
with Classe electronics. Classe is now part of the B&W group.
Anyway, the system was digitally oriented and the Classe electronics included a high pass filter in the digital domain to the PM1's, which increased their dynamic range without the hit in transparency and phase response you might get with an analog crossover. It was at a mfr's open house and B&W/Classe guys had done the setup, which was about as perfect as could be.
This was a KILLER setup for anything with no discernible flaws. No hole in the frequency response, no whoompy overlap, nothing out of phase. It really made the advantages of a mini-monitor shine--airiness, transparency, speed, lack of boxy resonances, wide dispersion without front baffle diffraction distortion, etc.--with none of the weaknesses.
Good sat/sub systems have several advantages. Good small-baffle sats throw a big holographic soundstage free of boxy colorations, and the sub(s) can be placed wherever bass response is best in the room, and tuned in with phase, volume, and crossover controls. You get much of what is attractive with panel speakers without a rig that doesn't visually and spatially take over the room.
There are so many KILLER mini-monitors out there that would make great anchors for a 2.1 or 2.2 system--Quad 12L2, B&W PM1, Totem Model One, Tyler D3M or D4M, PSB Synchrony One or Two B, KEF XQ10 or XQ20, any number of offerings from Dynaudio, etc. And although I'm a big fan of JL subs, that B&W PV1D was fantastic and matches well with the speed and higher reach required by mini-monitors.