First of all, let's be more accurate as to price, since there is no discounting with Bose. It sells for $700CDN plus tax, or $800. I own one. To that price, however, you might have to add another $275 or so, to have Bose install a new CD player, or light-tracking mechanism, once it's out of warranty. Bay-Bloor Radio seemed fine with charging me that price. We're now talking an investment of over one thousand dollars.
Do I hate the Bose? No, I use it daily, and its sound in relation to its size is excellent. But as others have suggested, it's not the only good mini-system out there, and you can certainly spend less money to get as good or better sound. If styling is important or compactness matters, the Bose ranks higher than it does on sound, imo.
I also own an Onkyo basic mini-system. You can buy them here in Toronto for about $450, taxes in. Handsome design, although the remote looks clunky. The sound is arguably slightly better than my Bose, and I am very pleased with it. I paid $315CDN buying it my mail from the US, and it has never given me any problems. I could own three of them for less money than my repaired Bose machine, and have money left over for a massage.
For $500-$700CDN including taxes, you can buy a TEAC or Denon mini-system that could serve most people ably as their principle sound system. I'm very impressed with each of them. For another $200, you could upgrade speakers if you're fussy.
What's the moral? The Bose people are marketing whizzes with a fine product. But if you are a frugal shopper who cares about good sound, I would look elsewhere.
One store I can recommend in TO is Executive Stereo on Yonge St. south of Eglinton. A lovely high-end boutique, they'll take time with you, and carry the TEAC. It's not a zoo, like Bay-Bloor.