QUOTE (Egor @ Feb 23 2009, 02:11)

A good micro-system will deliver balanced, pleasant sound in compact dimensions, while providing enough loudness for a living room.
I have yet to find one micro system that sounds acceptable for its price. Usually a first step up from very cheap audio setups are active commodity speakers (e. g. Logitech) in the 60-100 € price range. There you'll find an entry plateau. Many people are already satisfied with that and it's usually a huge upgrade vs. speakers that came with their computer. You can buy about the
same quality level for at least 50% more money in a complete Micro System with plastic speakers. I don't see much sense in that. They sound ok on the first look but frequency response is usually a nightmare. For example, extremely boosted bass in the 100 Hz range to cover the non existent sub range or boosted highs to mask their extreme mids. I would never call that "balanced". If you want better speakers for Micro Systems, you have to pay also for a lot of extra features, that you don't need, in the main unit.
For 300 € there's still not much to gain (like a whole new dimension) for Micro Systems, but you can already buy some
real speakers with excellent drivers in solid enclosures (important to avoid resonance) and cross a new boundary regarding
good sound.
I would save my money until that point and buy the speakers first, if you have at least
some amp, capable of at least 20 Watts (RMS), and later add a better amp or receiver. Give the Nuberts a try. Even including the expensive shipping they are still a deal. They save the costs for distribution and marketing and spread the word only by recommendations and good reviews. You can only buy directly from the manufacturer and these savings are priced in. Take a look at their references. These magazines are respectable sources and not some monster cable praising industry ponies.
Edit: I have indeed found some very trustable reviews for the Yamaha Pianocrafts (recommended by pawelq) in the 300-400 € price range. That really looks like a good alternative. Last time I checked this market segment is quite a while ago. Seems that it has evolved substantially since then.
I would still go for high class single components, though, and buy them piece by piece over time as I could save the money.