OK, thanks Don. I now infer that it would be OK if you put a barrier between the speaker wire and the 277 volt lighting conductors. How you would accomplish that, if the two run togther within the pole, eludes me. But if it is just at the bottom of the pole that the two run close together, then perhaps a barrier would do the trick.
My basic problem with this, however, is that I have never found a definition, or even a simple explanation, of what is meant by "Class 1, Class 2, and Class 3." 725.2 defines "Class 2 circuit" in the context of wires powered via a Class 2 power source. 725.41(A) tells me that if I wish to design a Class 2 power source, one option is to use a Class 2 transformer. This is even less useful than a "circular definition"; it tells me nothing about what "Class 2" means.
I did not pay attention to the FPN under 300.3(C)(1), for the simple reason that I had no way of knowing that speaker wire was either Class 1, or Class 2, or Class 3, or neither. I infer from your comment that it must be Class 2 or 3, but I couldn't prove it, if I were called upon to do so. Can you show me how I can tell whether speaker wire falls into 725 at all? :-?