My reason for choosing the Delta 15 for the Theater Series four π speaker was that its overall response was much better than the Delta 15LF. I think the Delta 15 is a cleaner sounding driver, which was particularly important to me when using it in a two-way system. I do like the Delta 12LF used in the three π though, and if you need a smaller cabinet, I strongly recommend that you consider building or buying Theater Series three π speakers.The Theater Series four π speakers have rapidly become very popular speakers and with good reason. Their performance is good, particularly for the price. They are somewhat large, however, and as you've noted, this is set by the driver used. But if you've got the space, those Theater Series four π speakers are hard to beat.
Have you seen the new Magnum drivers from Eminence? They are in a completely different price range, and so a comparison with the Delta series parts isn't merited. But I think you might find their announcement to be interesting, nonetheless.
It appears Eminence has decided to stop inferring that JBL Professional Series offerings were "over-engineered" and have decided to enter into the arena with them instead. Their new LF motors boast flux-stabilizing shorting rings that reduce harmonic distortion. I'm very interested to evaluate these drivers, and plan to do that shortly.