So combine performance levels around 110dB with speakers that easily reach 105 to 110dB and there's no 20dB of lost dynamic range.
I don't think I am exaggerating. I don't think you will find many dynamic speakers that easily do what you say (maybe two or three?). It is extremely rare to find a dynamic non compression horn consumer audio speaker that will do 110 db SPL comfortably and without any distortion, stress or serious compression at 8 feet back ( typical listening position ).
Even the revered JL F113 sub can barely cut it - which is why some people have opted for two of them!
However bass response is not the whole issue - midrange and tweeter compression and amp clipping from non-horn designs is quite standard at these levels - I mean standard - I mean on 99% of audiophile systems. Yes indeed - talk of an "elephant" is no exaggeration.
Soundstage show a test measurement of a Watt Puppy 8 tweeter starting to compress at 95 db SPL at 2 meters! Far from disappointing - this is actually very good but quite typical. Soundstage state in their description of loudspeaker testing that they don't typically test speakers at higher levels such as 100 db SPL because most of them would be damaged at this level -they are being truthful. Sure looks like an elephant to me -when you clearly and correctly state above that a speaker shoudl EASILY reach 105 to 110 db SPL at the listening position and yet Soundstage say this would damage most speakers!
I make no exaggeration. I suspect that many Klipsch and other large horn speaker owners know what I am speaking of when they describe the "live" sound of horns - the detail - the clarity - the effortless dynamics. These speakers sound live because many of these systems can actually retain the dynamic transients of real instruments cleanly up to 110 db spl.
Unfortunately ubiquitous sound from car stereos, restaurants, boomboxes and radios with typical compressed audio CD's from recording/mastering studios (which make their audio mostly for these mediums rather than horn speaker systems) have lulled most people into being blissfully happy with conventional dynamic speakers...totally unaware that a problem even exists. Concerns/efforts are directed towards source and preamp and other issues that actually pale in comparison to the loss of dynamic range from typical speaker compression/distortion. Many people chase massive monoblock amplifiers to try to compensate for what is really a speaker design limitation.
To me this is one of the principle reasons that most people will agree that most audio playback sounds nothing like the real live thing. Some horn users know differently...all IMHO of course. I respect that you and many others will disagree. I could not expect anything less, understandably, 99% of speaker owners with conventional dynamic consumer type speakers (the type that would get damaged at 100 db SPL) will deny there is an "elephant on the table".