08-26-12: Unsound
Keep in mind that the Quads that can produce a credible square wave do so due to the concentric wiring that disperses the wave form in a timely manner.
... and that's what's demonstrated by good step response. Perfect step response shows one impulse that then slopes down uniformly as the sound decays. Scroll down on this page for the step response of the Quad ESL-2805, followed by its square wave response.
Now here are measurements for the Dunlavy Signature SC VI, an all-dynamic loudspeaker. Notice how similar its step response is to the Quad.
For contrast, here's the measurements page for the highly regarded Revel Ultima Salon 2. Notice what a convoluted mess it is, and this is more typical of step responses of multi-way dynamic loudspeakers. Even the Wilson Maxx doesn't do that kind of step response. I think at a minimum it requires all drivers to be in phase and nothing but first order crossovers (6 dB per octave).
Other examples of good step response: Thiel SC-4 and Vandersteen Model Seven.

