Seeing I had them first it's only fair I pipe up to start us off.
First off I currently own ML3 Reference, did have ML2 Limited's and also had a set of ML1's somewhere between +R and Reference spec, so i've had a bit to do with the Lenehan gear over time.
These are pretty impressive little speakers and have a very similar sound to the ML1's. I'd say they're as open in the top as the ML1's were and very nearly as good in the midrange. They don't have big thunderous bass, but then neither do the ML1's. That said, depending on your musical preference and unless you are listening to heavy stuff for example Disturbed or Nickelback you don't really miss it. First cd I put in was the same i'd just listened to on the ML3s before connecting, Amy Dickson Dusk & Dawn with the intent to just listen to the first song Pavane to see how they handled saxophone, and ended up listening to the whole CD before finally getting up. If you've heard the magic mini monitor (ML1) and liked it, you'll love these for a fraction of the cost.
I had intended to just give them a quick listen for a couple hours and reconnect the ML3's the same day, but they ended up being so easy to listen to I left them there until about 10 minutes before Cafad came to collect them. Even with speakers costing 15times as much underneath them, I just didn't have a desire to switch back, they are just so easy to listen to. I can't think of another speaker at or below the price of an ML1 i'd have over these, but sadly I can't talk the other half into a "Garage System" for an excuse to build a pair.
To summarise, think ML1 on a Budget, DIY but you get to pick your finish! $1000 certainly easier than $4600 (I think? for ML1?)