I own an L!, and was interested in the Compact. Artisan Guitars in Franklin, TN got them in last week, and I bought a new compact on the 7th. I used it for a gig that night.
First, I love my L1, but the Compact takes seconds to set up, and I can carry it along with my guitar and mike stand into a gig. I had it in a corner, all the way extended and I was about 2 feet from it, standing. Unlike the L1, the sound is not great until you get about 5 feet from it, if it is fully extended. So what I heard was not what the crowd heard in this set up. I received many compliments from the crowd when I took a break, regarding my sound. I was not too impressed, but I had to realize that it is not the L1, and you need a little distance.
I originally thought I might sell my L1, but I love my L1, and I think I will use it for outdoor gigs, and bigger venues, and use the compact for smaller gigs, lower paying gigs, pool parties, and definitely a home unit for practice and listening to music. From what I can tell, the Compact has plenty of power. I was only on about, maybe 4, and use a mackie mixing board. I do think a T1 is necessary for this unit. I may get that next. I did play straight through the Compact, no board, and that seemed to work well, also.
I feel I now have extreme versatility, by owning both units. The lighter and easier, the better, however I want great sound. I have the best of all worlds, I feel. I only use 2 channels, guitar/vocal.
Again, standing next to it when it's fully extended is not optimal for the musician, but the crowd hears how great the system is. I look forward to playing out every time I use my Bose system, and now when the bar has their own sound, I think I'll still bring my Bose.

-- Sutton Parks 9 May 2009 4:53 pm --
full thread here