There will be plenty of opinions on the B&O system and it's a very personal decision based on your preferences and expectations.
I also ordered the B&O but my view is slightly tainted as I am used to high end car audio (once owned a car stereo shop in Germany) and therefore my expectations are somewhat higher than most.
So caveat emptor when you go past this line as I am sure the information below will be only of use/interest to a very small number of folks
However the reality is to improve a system like B&O one has to spend disproportional amounts of money as audio doesn't scale very linear when it comes to prices/sound quality
Overall the B&O is probably good enough for 98% and in my case I mainly bought it for it's design aspect and slightly improved sound over the factory / standard system.
As has been mentioned it is more sensitive to recording quality but it's sound quality can certainly use some improvement in particular in the high and low frequency department.
Ironically the "worst" feature of the B&O system is also the main reason we all bought the system, it's the speaker covers which are aluminium and having them covering the speakers does significantly reduce sound quality (for a fun experiment you could remove the covers and I bet you'd be amazed how much sound will improve, however it won't look as good anymore
) .
Also the components themselves are not of very high quality but B&O is all about design/function not about using the best components (also true for the home entertainment products).
In order to improve the B&O system I've decided to go a route which will retain (most) of the B&O design and will also some refinement for the highs and low frequency part.
For the highs/mids I plan to buy a set of B&O grills and have the center part covering the speaker milled out and replace it with proper speaker cloth, this should improve clarity and defintion. Phase 2 would be improved speakers such as Focal's K2 or BE series (very different price point to the K2s).
For the low frequency to improve definition and reduce the distortion of the OEM system a custom subwoofer box is being constructed to fit into the passenger foot-well. This complements nicely the factory under the seat subwoofers.
The upgraded amplifiers can be nicely mounted under the rear parcel shelf and covered by an OEM looking cover.
Hth,
Jan