I agree there, it does detract a bit from the clean computerish lines of the current iMacs, but I'm willing to accept the compromise if the product delivers on sound (most of the other mini SBs out there are really much uglier).
As far as speakers, it reportedly has "dual dome tweeters, midrange/bass drivers and passive radiators" for a total of 6 drivers. I don't think it has an integrated subwoofer, but it does have a sub-out port, and I already own a subwoofer, so I'm a perfect setup. It has a 10-watt amp, which should be enough, considering my ears will be less than 2 feet away in use.