I bought myself and my iPod Classic an Altec Lansing IM7 a few months ago. It replaced an Altec Lansing MX5021 that was too bulky for my tiny living room. While it lacks the power and the stereo separation of the MX5021, it still sounds great for the price (Php 6500) and the small package.
Based on reviews on the internet (iLounge, Macworld, Pcmag) it's by far the best sounding portable iPod speakers for its price range. Even user reviews from Amazon confirm that it sounds incredible. There are a couple of 1 to 3 star ratings though but even the 1 star ratings still applaud its sound. I agree wholeheartedly.
Just a couple of flaws to note. Do get the newer black version since the white one has a sliding tray to load your iPod. Unless your iPod is in a case, it will be scratched badly. The black version has a cradle much like the Apple Hifi and the Bose Sounddock.
Also the remote is quite weak, you do need to be close (about 1 meter) and at a fairly perpendicular angle to the IM7 for it to work.
Biggest problem for me was the lack of any visual indicator for treble and bass. It took me about a month tweaking them before I had setting I was content with. Now I'll be hiding the remote so no one messes with it.