Really couldn't tell you whether the L1 Compact System is enough or not, but I can tell you that Bose stuff sounds GOOD. I've heard 3 guitars, bass and vocals run through dual L1's in an open air pavilion for about 350 people and the sound was very good. A good friend I used to work with does a solo jazz guitar thing in a medium sized restaurant here and he runs his 335 along with tracks through a single L1 system and the sound is also of good quality.

Bottom line, you gotta hear it and make up your own mind. There does seem to be two opposing views in this thread, and even though one side is being somewhat of an [*****] about it, you should hear them both out, then listen to systems yourself and make up your mind.