Overall speaker quality cannot be easily summarized by watt ratigns and frequency response, though you can get some hints.
"Watt" is a measure of power (usually electrical power), and indicates to some degree how much sound power can be generated. Sometimes, the watt rating is for the amplifier: how much electrical enegery is created and sent to the actual speaker. (in a PC speaker, the amplifier is often built into the speaker itself.) Sometimes, the watt rating is just an indication of how much power the speaker is capable of handling.
A larger watt rating is probably better, but not a guarantee of quality. In a home stereo system, one would be looking for ratings like 100 watts per channel to deliver good quality sound. You don't need that much for listening to a PC "beep", but if you're trying to use your PC speakers to listen to movies realistically, you'll certainly be wanting speaker systems with plenty of power.
Frequency Response refers to the range of sounds, from high-pitched to low-pitched, that the speakers are capable of reproducing. This is measured in "Hertz" or "kiloHertz" (thousands of Hertz) and abbreviated Hz and kHz. The range of human hearing is usually stated to be about 20 Hz (very low pitched, like the lowest note on a church organ) to 20 kHz, which is very high. As people age, their high-frequency hearing typically diminishes, with the result that over 45 years old, many can only hear up to 10kHz.
When a speaker is claimed to have a frequency repsonse of 40 Hz to 15 kHz, that means it can produce sounds at those extremes, and probably in-between. But it doesn't say how well. Some frequencies might be of lower volume than others, resulting in discoloration of the sound. A more reliable measure would be Frequency Response with an indication of how much it varies, in decibels (dB) (a measure of relative loudness). A good rating might be 20Hz - 20kHz +/- 2 dB. That rating says the relative loudness varies just a touch over the whole range of frequencies.
In selecting PC speakers, you must consider overall sound quality, and that's best judged by you in the comfort of your own home, or perhaps by reviews from PC or Stereo magazines. "Sound and Vision" magazine occasionally reviews PC speakers from a sound-quality perspective; check their online archives.
Another factor to consider is "how many speakers?" Many of us older farts are used to stereo, 2 speakers. We sometimes add a sub-woofer, a speaker that specializes in low-frequency sound. Subwoofers tend to be large - using speakers that are as much as 12" in diameter. Mine is in a box that's 15" on a side, and includes its own 100 watt amplifier. So, my stereo hookup (attached to the PC) includes a control amplifier with volume and tone controls and 20 watts power), left and right speakers in nice wood cases flanking the monitor, and the subwoofer on the floor.
Home Theater has introduced us to Surround Sound with 5, 6, or even 7 channels of audio. You can get sound cards for your PC with up to 7 audio outputs, and then surround your room with speakers. This will cost you more, but perhaps deliver a nicer experience when you watch movies on your PC.
Good listening....