Sonic Differences Between 2-Way and 3-Way Speakers

I think in most people's price range a 2 way speaker makes more sense, it is better to have fewer high quality components.

That being said often people have a subwoofer to flesh out the bottom end, so in a sense a sub satellite system is 3 way anyway.

It is always the old compromise, do you want a better quality midrange or a full range system? I know I can not afford both.