Ha, I have that model, got it for 25 dollars at a CompUSA sale, so it was irrestible. Mine seems to be defective or getting interference, if I have the main volume higher than halfway, the system hisses and introduces louder hissing when sound is played through it. Halfway is loud enough though, putting it all the way up isn't all that much of a difference due to the logarithmic nature of dB (I am guessing at that one).
It sounds really good if you are playing a CD on your computer through it. Has a really good punch for the bass, and a sparkle for instruments like an acoustic guitar. It really helps if your soundcard has a good hardware equalizer on it (Windows media player is rubbish, it just ups the volume of the frequencies, but doesn't exactly "equalize"; you see, for the most part, analog equalizers keep the volume at a relatively constant dB, unless you raise or lower all of the sliders). So in terms of equalization, if you are using a 5.1 or higher soundcard, you should have a hardware equalizer on it anyhow.
As far as frequency response, the subwoofer of course is freakishly loud if you equalize it properly. The satellite speakers have a bit of the cheap mid frequency response (to hear a really huge, overly midrange frequency response try one of those 99cent earphones and hear how they sound cheap).
However, these speakers are nowhere near 99 cent earphones, as adjusting it with an equalizer can solve any sort of problem (some might like a couple of decibels extra on the midranges).
Watching DVDs with 3D sound, however, is where these speakers really shine. The center speaker (concentrates on the midranges, due to the frequency of human voice, but these speakers are very much well-balanced) produces the speech of voices clearly. We all like that sound of a helicopter crashing through the ground and shaking the room.
All in all, 10/10 for the price I paid.