Picking up on Erik Squires’ reference to Nelson Pass....
I recently purchased a First Watt F7 amp. It generates 20 watts into 8 ohms and 30 watts into 4 ohms, so it doesn’t "double down". On a couple different levels it seems to embody "the less is more principle". I also think it shows not all watts are equally "capable". I’m mainly using it with moderately efficient Silverline Prelude Plus speakers (nominal 92 db sensitivity). Sound quality is extraordinary with the Preludes and was absolutely astonishing when the F7 was used for a short time with 87 db sens. Totem Forests. It won’t peel paint but the sound produced is "to die for".
At the risk of being accused of exaggeration, listening with it is like going from B&W TV to color, if you will pardon the non-audio(phile) analogy. And this by comparison to many different higher power amps including tube mono blocks and, more recently, Hegel H200 and Merrill Audio Taranis (both still part of "the fleet").
In the interest of full-disclosure, while the sound with the Forests was absolutely magical (the best they’ve ever sounded) concerns about yielding to temptation and pushing the volume into clipping territory and damaging a tweeter led me to discontinue that experiment. SPL readings of upper 70s db at 10 feet diagonal from the speaker (C weighting; Slow response) were easily achieved beforehand with no sign of strain - very satisfying levels for late night listening. With the more sensitive Preludes, low to mid 80 db peak SPL are regularly registered at the same 10 foot listening position. Completely satisfying levels for the kind of listening I do.
So, in reply to Blindjim’s question, "Would you buy an ‘uber expensive’ amp based more on its voice or soul, than on its ability to output loads of watts, even if you feel the amp may be somewhat under powered for the application?" The answer is "yes"...except for the uber expensive part. The F7 lists for $3000.
(FWIW - I believe NP credits Dick Olsher with "the first watt is the most important watt" comment).
For more info:
http://www.firstwatt.com/pdf/prod_f7_man.pdf