The specs indicated in the manual for the Krell 700cx are 3.58 volt sensitivity (for its balanced input), 26.4 db gain, 700/1400/2800 watts into 8/4/2 ohms respectively.
26.4 db is a voltage gain of 20.89, based on db = 20log(Vout/Vin).
20.89 x 3.58 = 74.79 volts.
(74.79 squared)/8 = 699 watts into 8 ohms, corresponding almost exactly to the 700 watt rating.
Double that into 4 ohms (= 1398 watts), and double it again into 2 ohms (= 2796 watts). The results again correspond almost exactly to the rated power capabilities.
Ralph, I think you were right in the first place!
Concerning Keith's reference to "3.58 volts min," that is probably the result of a miscommunication. Sensitivity specs are usually neither min nor max, they are simply the (approximate) input voltage required to drive an amp to its rated maximum output power. And based on these calculations, that certainly appears to be the case here.
Regards,
-- Al