@Phusis
This shows how easily it is to ignore the Facts of the subject and keep on trying to reinforce the idea that clipping is the ONLY place that headroom affects. Clipping is only a minor concern is is the LEAST of the actual AUDIPOPHILE reasons for having overhead.
Yes you can power a pair of headphones with a couple of well designed watts of power but you won’t be powering a set of Maggie’s with only that. You are mixing apples with oranges IF you think there is not a high level of sound quality in reference here. Or as I said before would you expect audiophiles totally ignore ALL of the statistics published about the Amps they are discussing or buying.
IF you take a lower powered Amp, say 10 watts, running at .5% distortion and run it at 5 watts what is your distortion level compared to a high powered Amp, say 100 Watts and run it at 5 watts output, with .5%. That is not .5% at 5 watts but IS .5% at the capacity of the amp, or at a designated % of output. With a higher wattage capacity you can run the distortion right down to the floor. That is just one of the factors to consider.