Price Paid:  $798.00 from Ascend Acoustics

Summary:
I purchased the Sierra-1 reference monitors (Natural Finish) to use in a spare room. I had a chance to listen to them side-by-side against my main Paradigm Signature S2 bookshelf. Other such comparisons usually resulted in a humiliation of the competitor. The Sierra-1 is the first speaker, at less than 1/2 of the Signature price, to compete effectively. The soundstage is wide (outside the speaker), though not as deep. This is a very neutral speaker, neither forward or laid back. The bass is outstanding for a bookshelf speaker, though not with the same authority as the Signature. This is a very 'fast' responsive speaker, responding well across all genre's of music. Tony Levin's bass came across as fast and articulate in 'Liquid Tension Experiment'. The complexities of Mahler's resurrection symphony from Fischer's account also were rendered believable. Vocals too, sounded natural with little sibilance or chestiness. They didn't make me want to put my Paradigms up for sale, but they certainly were not embarrassed to stand side-by-side with them. I also didn't feel the need to dial in my sub-woofer (Paradigm PDR-10) during the listening tests.
If you are looking for a reasonably priced monitor to use in a small to medium size room, for two-channel or home theater, add this to your short list. They are also offered with magetic shielding (add 40 bucks to the price).

Equipment Used:
Paradigm Signature S2 speakers
Primaluna Prologue 2 Integrated Amp
Jolida JD100 CD player
Jolida JD9 phone preamp
VPI Scout/JMW9 Tonearm/Dynavector 10x5 cartridge
Nordost/iRiver/Audio Art cabling

Strengths:
Neutrality, Price, Bass Response, Finish

Weaknesses:
Very little at this price point. Give the weight (20 lbs) and rear porting, I would mount them on a quality stand and give them room to breathe.

Similar Products Used:
My long term Paradigm Signature S2 stand-mount speakers.
Also have compared with Focal JMLab, Polk, and B&W speakers (sub $1000).