In 1997 Pioneer made a new product to replace its previous mini system. This new product was the FX-1 (also known as F21) system. This got the EISA award in 1998 as the best European mini component system.The main unit, the reveiver has a 50 W RMS output power on the supplied 6 ohm speakers. Looks small, but sound big. The main unit also has a receiver, which is closer to avarage, than highs.
There is also a CD player, separated from the main unit. One CD with Pioneer's special Slot-in technology. Simple, fine and works with 8 cm CDs too.
The biggest innovation (and the second most expensive part in the system) is the MD player. General features, general knowledge in a small package.

About the sound.
I heard several small systems in the lower price categories (below 800 USD), but the difference in price is much less, then the difference in sound. Clear, non-tweeting highs, warm mids and non-burutal, confortable lows. There is a one step bass-booster system (P. BASS), which makes the bass-range harder and more efficient in lower hearing volumes.
I made several test with MD recordings, but I never heard any difference between original and recorded sound.

Usage
All the three parts of the system is connected between a TOS-Link round, and a controller cable. Both the MD recorder and the CD player has the most important controls on the front (play/pause (record on MD), forward and backward step and stop), all other feature can be controlled through the IR remote controller, which works together with the main unit only. I found only a few features, which is not logical, and usable only after the reading of the manual.

Overall
First, positives: nice look with the polished aluminium fronts, very effective sound, especially for pop/jazz/classic music, less for rock and techno (but Prodigy sounds great on it). Small (21 cm wide only), easy to assemble, the end-apm has an automatic cooling fan.
Negatives: a little bit big (and "noisy") display, digital voulume setting (the main volume knob must be changed after 200-300 usage hours), "cheap" remote controller.

I gave 5 stars for the design, the knowledge, the usage and sound, but 1 for the "negatives".