Bruce (Bifwynne), from John Atkinson's
measurements of your ARC Ref-150:
All taps behaved similarly when it came to the maximum output power. Into a load twice the nominal tap value, the Ref150 clipped (defined as 1% THD) at 90W (19.6dBW, fig.4). Into the nominal tap value, it clipped at the specified 150W (21.75dBW, fig.5), but with a higher level of distortion. Into half the tap value, the amplifier clipped at 80W (13dBW, fig.6), but with even higher distortion at lower powers. It is important, therefore, to use the transformer tap that best matches your preferred loudspeaker.
And from ARC's specs for the amplifier:
150 watts per channel continuous from 20Hz to 20kHz. 1kHz total harmonic distortion typically 0.6% at 150 watts, below 0.03% at 1 watt. Approximate actual power available at ‘clipping’ 160 watts (1kHz). (Note that actual power output is dependent upon both line voltage and ‘condition’ i. e.: if power line has high distortion, maximum power will be affected adversely, although from a listening standpoint this is not very critical.)
So since the spec for the clipping point (presumably corresponding to the amp's maximum instantaneous power capability, for some reasonable amount of distortion) is negligibly higher than its maximum continuous power capability, the amp's dynamic headroom is close to zero.
The way to look at it is that the very high energy storage capability of its power supply helps the amp to achieve a continuous power rating that is close to its clipping point, rather than being significantly less than its clipping point (as it would tend to be in the case of an amp having a significantly less robust power supply). As well as perhaps providing other benefits, such as minimizing the extent to which the perceived dynamics of the amp might be compromised by sluggish responsiveness of the AC supply to abrupt increases in demands for current.
Note Ralph's earlier statement that "if class AB and without much power supply, for a brief instant the amp will be able to make more undistorted power than its constant power spec." Or putting it the other way around, if class AB and without much power supply, the constant power spec will be much less than what the amp can supply for a brief instant.
Best regards,
-- Al