I know this thread is a bit old, but I'd like to answer the specific questions with regard to the L1 compact, the one with the integrated woofer.
Yes and Yes, or rather it depends and it depends. Will it handle bass guitar frequencies? Yes. Sound Effects? Yes. It's basically a 130 watt very high quality general purpose amp so don't expect it to out-thump a 1000 watt behemoth. Do expect it to fill a small venue and you can use the line out to feed a large venue PA, or second amp/compact unit.
I bought a Bose L1 Compact 4 months ago, I hesitated because I am suspicious of unbridled praise. I have used it with my pub duo (keys, rhythm acoustic gtr, harmony vocals plus guest fiddle) in a crowded, noisy Irish pub on St Patrick's day - one unit filled the pub amply - verified by disinterested, independent, tactless witnesses. For fretted and fretless bass guitar + vocals at open mics and jams and for piano and vocals in a jazz band, and more.
I bought mine used for £600 - they're £900 new in the UK. I wouldn't have actually bought it for the new price, but now if I was in that price bracket -considering an AER for acoustic, or an Acoustic Image bass combo, both of which I have checked out, I would get the Bose and a preamp (if needed).
I wouldn't have bought the b1/tower units, because I wanted quick setup/breakdown and one hand carry to the car.
Reasons - integrated design puts upper mids and highs above the crowd, so full range sound is projected - because of the separate units, vocals or keys can be fed in via a mixer or using adaptors on the input without noticeable intermodulation distortion - size and weight: pub landlords attesting that "I've seen guys with 20 times the gear come in here and this produces a better sound (that's one unit).
See, I'm old school, when I started out, 100 watts was a ridiculous amount of power. So I'm not after watts for watts sake. I also need to feel that every penny spent on gear works for me. And this does - on tiny pub 'stages' (corners), at 2 in the morning unloading on my own, at parties, when I have to rush from one gig to another and have 10 minutes to set up, by ensuring that I have foldback, which I have always found useful or essential even at small gigs, in repeat gigs as landlords comment on how good the sound is and re-book me/us. I now choose to take my Compact with me and set it up rather than use the house PA at most gigs and it simply works, my band can rehearse in the loft, because I can carry the pa upstairs in one hand, even with my trick back and dodgy ticker.
Caveats - GIGO - garbage in, garbage out, put a quality matched level sound in and it sounds fantastic, hiss or distortion has always been from sources, not from the unit - Manage gain stages - The times it's sounded bad have been when I didn't sort out the gain stages on the mixer I use, once rebalanced it was perfect - It's a 130 watt amp, OK for small clubs and pubs. If you want auditorium level gut-thumping, then try an additional subwoofer or two and or a second unit, I'd love to hook up two in stereo for stereo keyboard and panned vocal harmonies.
Expensive? Not compared to a decent drumkit or pro bass guitar. Or the value of time to build something Professional. Or the load on my back/heart when loading unloading repeatedly. Or the consistency across rehearsals and performances from using the same system. It's definitely justified itself. I only wish we paid US prices over here.