What is your preference?
In a well executed design the end goal may be the same, but different formats will always yield a different bias. While my main system is a 4way, I prefer a 3way design with sub.
To me it boils down to a perfect balance of bass, mid and high. (with a sub sonic cushion) It's just the way I mix and listen to sound. A 2way co-axe may have a smoother response, but a well balanced 3way is what I want to hear. Though not as seamless in response, there is a naturalness in the way it interprets music.
Maybe it's just a personal bias rooted in what I grew up with; Younger engineers seem to favor 2way systems these days.