I have now received my Firewave, so I can give you my initial thoughts/impressions.
First off, I got the Firewave last Thursday and was ready to get it all set up and test it out, but immediately discovered that I wouldn't be able to because the Firewave only comes with a firewire 400 cable. Because I have the newest iMac, it supports firewire 800 only. So if you decide to buy the Firewave, you should also purchase a firewire 800 to 400 cable at the same time, so you don't have to wait, like I did, to set it up. I suggest monoprice.com:
http://www.monoprice.com/products/p...=10301&cs_id=1030105&p_id=3542&seq=1&format=2
So I ordered that cable from monoprice, and it arrive yesterday so I was finally able to get everything set up. It took about 5 min to install the software, plug everything in and get it all configured. Super easy, super slick. Most of the controls are done through the MIDI Audio Set-up stuff, found in the applications folder of your iMac, however the Firewave software also has a few more controls.
The sound is really great. It's been a few weeks since I've been able to listen to my speakers back when they were hooked up to my old PC, so maybe I'm remembering incorrectly, but I think it sounds better than it did on my PC. Or maybe it's just such a big step up from the iMac's built in speakers that anything will sound better. But I really like having the thump of the subwoofer again.
I've only listened to music in iTunes so far, so I can't say anything for Dolby Digital 5.1 from a DVD source.
As far something I dislike about the Firewave... Perhaps it's just my particular box, but it emits a high pitched, electronic sounding ring/buzz when I plug it in. I'm sure it has to do with the fact that it's being powered by the iMac (which is nice, not having to plug the Firewave into an outlet for power) but when not listening to any music the ringing is very noticeable and VERY annoying. After about 2 min I actually stuck the Firewave down on the floor, underneath my desk (away from my feet) so I couldn't hear it anymore. If your desk doesn't have a place for you to hide it, you may want to think twice about getting the Firewave (or again, maybe it's just my little box, and not all of them have this problem).
But overall I'm very pleased with it so far. It does its job easily and requires almost no set up before you can have great sounding surround on your iMac. Hope this helps.