Can you measure dynamics and punch of a speaker?
Yes. There is something called ’thermal compression’ that has to do with the voice coil heating with bass notes and the like. When the voice coil heats, its harder for the amp to put current through it. The voice coil heats and cools with individual bass notes. So the result is less punch and its quite measurable.
The more efficient the speaker, the less this is a problem, generally speaking. You can do things on the design side like vented magnets to try to reduce this problem, but at the end of the day you tend to get more punch with more efficient speakers.
IMO/IME there really isn’t any reason to have a low efficiency speaker unless small size is really important. Higher efficiency speakers don’t take a back seat in terms of resolution, in fact can be more revealing. You do get into a problem making bass, and that can get expensive to overcome (for example TAD used to make the 15" 1602 driver, which was a good $2000 per driver, but were 97dB and had a free air resonance of 22Hz).
However, you can overcome the bass thing with subs. If you set up a distributed bass array, you can have good bass from 80Hz and down handled by the subs. Since each sub is handling only 1/4 of the total bass energy, they are less likely to get into thermal compression problems.