I use the L1 system and think very highly of it. I've also heard the compact and to me, there's no comparison. Everything is thinner. Its a high quality thin, mind you, but thin none the less. I don't think EQ-ing could make the difference.
I've also discussed this with Bose customer service and their take is basically this.
If you're want a nice fairly low volume sound, then the compact can do a very nice job. If you want any serious volume, and a more full dynamic range of sonic output, then the compact is NOT for you. They suggest something along the lines of the L1...
Some users have combined two compact systems with very good results. I can't speak personally to that as I've never heard it. The guys around here who have done this know what they're talking about.
If you're looking for a single Bose PA to use for high quality arranger use, I would NOT suggest the compact. The L1 will do much better, IMO...
If you're doubling the PA, then either can be very good....
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Bill in Dayton