Hi Arj,
The first thing is that front loaded horns like the Gran Gioia need a large room .You have to be at least 15 feet away for the sound to really come together.In smaller rooms it is better to use a bass reflex/rearhorn/sealed cabinet with a horn for the HF.
The Gran Gioia is a modern beautiful version of the Altec VOTT.Basically an Altec derived 416/515 woofer and an Altec 288 type HF driver in a front loaded horn with bass reflex cabinet to extend the lows.
Audiolab?@ALTEC?@A5?@System?@USED
I understand that the Gran Gioia uses drivers sourced from Wolf Van Langa's Kilmanjaro series.
Blumenhofer Acoustics News: We introduce the Gran Gioia
Blumenhofer-Acoustics | Kilimanjaro-Series | Wolf von Langa
Great Plains Audio | Great Vintage Loudspeakers
Wolf gets Altec reproductions from Great Plains Audio and converts them to field coils.The old Alnico drivers can be easily converted to field coils.In fact there is a guy in B'lore who can do this. One of the last of a vanishing tribe of great speaker repair guys.
Interesting field coil drivers in Germany
Actually putting togther a good horn system using vintage drivers is not very expensive compared to the cost of some bookshelf speakers. A speaker similar to the Garan GIOIA can be put together for a fraction of its cost using Altec drivers (Alnico not field coil).
One has to be patient to get the right drivers in India,or if one is in a hurry and has $$ good drivers can be bought on Ebay.It is next to impossible to find vintage field coils now in India,even if you find them parts are not available.
It is best to stick with Altec/JBL as replacement parts are easily available.Finding parts for Klangfilm,Vitavox ,Jensen,Western Electric is next to impossible or you have to pay $$$$ for them.
Unless you buy new field coil speakers trying to repair/restore old drivers is very difficult.Sourcing the correct parts and cost of the parts is a problem.I have some drivers that will hopefully get done sometime in the future.
New field coils are very expensive.

There is a Chinese comany apparently funded by the Japanese that is making replicas of the great vintage field coils. Prices are supposedly reasonable compared to the prices of the same vintage drives The reports about their performance are good.
LM Audio
LM Audio 555W
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The link below has some truly amazing horn speakers.
links to webpages with pictures and descriptions of Audio Systems with hornspeakers - Audio Voice Acoustics
Anil has a pair of Altec based speakers.If he is willing you could take your Leben across and listen to them,and see if the sound is to your liking before you take the plunge.Tubes +Altecs :yahoo:
Regards
Rajiv