Well, this is one average cheap sound system.
The sound is, well, acceptable, thanks to decent midrange speakers and wooden shells. It is perfectly OK for your bedroom, or kitchen, or whatever other place, providing that you do not want it to play loud. Don't.
There is one more problem. I was first disappointed by the lack of high frequencies in the sound. As it turned out after disassembling the speakers, this system actually has fake tweeters, that do not produce sound at all. Basically those are just pieces of tin with two wires attached, covered by paper. Shame shame Philips, where are those two-way speakers as stated in specification? You won't have me as your customer anymore.
Apart from this, I found no major drawbacks. The remote control has one interesting bug in CD mode. After you let CD play for a while, the system will not obey the commands from remote. Pause/Next/etc are gone, only volume works. Luckily the remote will resume if you press Play once again. This is a "feature, not bug", as I was told in warranty service :)
Conclusion: not really recommended, although not bad either.