Got a chance to hear the speakers. A few points:
- First these did not "fail miserably in all respects"

. I enjoyed listening to them
- The design is still in the prototype stage and there are a few tweaks yet to be made. The final price will depend on a few design choices (aesthetic ones)
- As with all single drivers I have experience with, these too are sensitive to speaker positioning and listening position. Sridhar was kind enough to move the speakers about a bit. Initially they were a couple of feet from the wall. Later they were pulled a third of the way into the room. I much preferred the second position. I also preferred the sound with the driver a bit above ear height - which implied sitting on the floor and listening.
- I heard them in an unfamiliar system - LM Audio push-pull amp, Ayon CD07 CDP. I suspect that these can do better. I would like to hear them with a Leben or a good single ended amp and with a better source
- What I liked: resolution, soundstage (after tweaking the positioning), tone; what I didn't: bass impact (extension was good but impact was weak). These do very well with jazz and vocal but are not really meant for hard rock. One trait which struck me was the balance of excellent resolution without making ordinary recordings sound bad. That is tough to achieve with any speaker irrespective of price / design
- I have heard the Fostex based Lyrita Harmony, owned the Fostex based Audire IO2, heard the Rethm Trishna, owned the older Lowther based Rethms. I would rank these above the Fostex based designs (more linear, less shouty) but below the Rethms. The Rethms are a mature design and it shows in performance (particularly soundstage, bass) . None of these speakers really compare to conventional designs (eg. the better Dynaudio or ATCs) if one's staple music diet is hard rock
- As per my discussion with Sridhar, the brief for these speakers was something suitable for low powered tube amps. They are not mainstream speakers. I suspect the production version will improve the speakers a bit based on listener feedback
If I were in the market for a tube-appropriate speaker today, this would be on the shortlist. However, for me these are not as paradigm changing as my first taste of the Rethms was. I suspect that, at least for my preferences and given my history with the brand, I would prefer the room-appropriate Rethms over these if looking to buy