Yes, power factor.
Same thing happens with speakers where people insist on saying bad load=low impedance when really it is hi phase angle AND low impedance at around the same frequency that makes for a bad load. For speakers a Smith Chart tells the whole story. Phase and impedance as 2 lines always confuses me. Smith Chart is easier to read, after a small learning curve.
I will measure the PF of my gear. I suspect no worse than 30"=0.86 pf.
This is within reason and not unexpected. Remember, we may get billed for WATTS, but consume va. That's why transformers are always rated in VA and not in watts. And, as an aside, some factories get billed a 'premium' for low PF load. Your stereo can be the same way.
'A' amps are always on, so at 100% all the time.
Agreed about average draw. If the power factor is reasonable, no need to overdo it too much. 14ga should still be good up to what......1000va?