I always go with Breathe from Dark Side of the Moon, side 1. If you can hear the Speak to Me intro then you know that your speakers are efficient or your amp sufficient to drive them, it has a great mix of high, mid, and low sounds, good base, and is a crisp and clear track. It basically has everything I want to listen for with new speakers. When I went to check bass clarity specifically (not subwoofer range), then I put on The Chain by Fleetwood Mac and wait for the bass riff to kick in.
Edit: Billy Jean is a great test song too imo. Good choice.