I've also been closely watching the DCX464 vs DCX354 situation, while i will take B&C's word for it that the 354's MF plays a smaller range, the response graph on the website between the two is extremely similar. Output wise the 354 has the same or better sensitivity with a small sacrifice in total power handling ending up with roughly a max output reduction of .5dB on both the MF and HF sections compared to the 464, seems like a reasonable compromise overall for improved distortion i think (i do wonder how much?). From the postings/updates, it's mentioned there have been several improvements on the design and manufacturing process since the 464 release so i suspect the 354 may be even better than it initially appears.
I know graphs don't always tell the full story but you would think they are almost interchangeable seeing this (manually overlapped images from B&C site):
DCX464 in blue, red
DCX354 in green, purple
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Unrelated, for those who don't know Australia now has a B&C distributor at surgesound.com.au and from my correspondence with them, the prices are very reasonable compared to previous import options.
