Yes, I have a small creative labs PC sound system from a while back, 4" subwoofer and 3" sattelites. Not the best sound but certainly acceptable, especially for the size. It is actually possible to place 4 sattelites on a desk for 4.1 surround!
I guess the trouble is how to determine whether I am going to be driving my speakers with 3 Whats or 3 Watts.