The Sanders paper is very interesting. But one should remember a couple of things:
1) He's talking about ESL speakers in the main;
2) I think he exaggerates the frequency and extent of clipping in an appropriately matched system.
I would venture to suggest, at the risk of possible ridicule, that an audiophile in 1950 with a pair of Klipsch Cornwalls and a 15 wpc Wliiamson amp would rarely have encountered clipping and was probably enjoying a better musical experience than a lot of the power-eating systems available today. In modern terms, I'll also stick my neck out and suggest that an audiophile with a pair of Vandersteen 1Cs and a well-restored Eico HF-87 will find a good deal of musical contentment with that arrangement, with far fewer headaches and travails than an amateur attempting to joust with walls of drivers and 600 wpc. ;-)
As a counter-argument to Sanders, I enjoyed this interview with amp designer Justin Weber, who essentially maintains that most audiophiles need *less* power than they think. He also offers a very amusing and (IMO) very pertinent discussion about single-ended amplifiers: