The big Sparkomatic Altec got very good reviews -- it was a triamplified large tower system, which has been discussed in a couple of threads over the years, especialy when someone was CLing a pair in Miami.
I have to say I think the standard line that the original Altec was great and the Sparkomatic Altec reeked isn't fair.
If all the original Altecs were so great, why'd they run into trouble? Regardless of whether you think dome tweeters etc are overrated (and yes, probably they are) the later original Altec producst were behind the market, and not just on theoretical grounds -- the small Altecs were fun but not exactly accurate, and that cone tweeter with the aluminum dustcap isn't particularly extended, well dispersed, or flat in response.
Of course the big semi pro Altecs are a different matter, but so is that big Sparkomatic.
Everyone's made some dogs, even the grand old firms. And many companies have made really good speakers, even annoying upstarts.