In particular with small speakers, removing the two lowest octaves can greatly reduce the distortion, not just across the bass but well into the midrange, so the speakers sound more transparent with improved soundstage, and eliminating the bass also increases the speaker’s dynamic range a great deal. It’s a really life-changing experience.
Even if a speakers output drops it doesn’t mean the cone displacement does, quite the contrary, an effect which is made worse with ported speakers.
Well said. I don't know about "life-changing" but your other points are spot on. IME, the effect/benefit is greater with main speakers that don't go too deep or don't handle high power well. I use the Marchand XM446 fully balanced high pass filter and because of the low frequency capabilities of my main speakers, I had them roll it off pretty low at 45Hz. I roll the subs in about 40-45 Hz and the result sounds great. Neither of their passive filters, the XM46SB-AA (single-ended) at $325 nor the XM446XLR-A (balanced) at $525, break the bank for a well-engineered high pass filter using high quality parts. For folks seriously looking at this option, I suggest calling Marchand and getting what you need, rather than farting around with capacitors.

