In short, no. A Neutrik TS jack from parts express costs $5.89. A NL4 Speakon jack costs $4.10. Hell, if you want, I have some NL2 round jacks laying around that aren't going to get used. You're more than welcomed to them, but keep in mind they won't work with NL4 connectors.
1+ and 1- with mate up but 2+ and 2- that will not get connected. Unless you are bi-amping boxes or using another configuration where you need to use four connectors, the NL2 will work fine. I replaced all my XLRs with NL2 jacks and receptacles long ago and some of my amps are fitted with NL4 receptacles. I am not sure, but I believe that the NL2 was developed after the NL4.
They are a much better connector and unlike a 1/4" will not wear or break as easily. Sharyn has also pointed out the other flaws, so these do not need repeating. Also, it makes your speaker leads easy to identify and should you need to repair a cable at a gig, you don't need to solder anything. Neutrik connectors (on the jacks) are screw terminals.
Big fan of using twist-lockedison plugs. Easiest solution to the danger of plugging them into power is to just put a male recessed port. Works great with leviton plugs as they have very tight contacts.
As I mentioned that is how it was done in the "old Days", problem is today those twist locks are just about as expensive as the nl4's, and the twist lock connectors tend to be plastic, are bigger, not as good strain relief. There really is a reason why the industry moved over to NL4's ;-). on the small speaker you are looking at a much better plate solution than cutting a larger round hole, getting the male receptacleetcetc