I would like this thread to start informational, and hopefully turn into a discussion where technical opinions are exchanged for the common good. People who are sensitive to over-engineering should hit Back right now.
First a quick background on Power Amplifiers. We all know that a power amplifier is made of a power supply and circuitry, and both of these halves have to be perfect is perfection is the target.
Kinda like the engine AND the suspension being necessary for a fast car. The engine has more to do with acceleration (akin to dynamics in audio, or ease at high volumes), and the suspension to the handling (musicality, softness and presence).
A perfect power supply delivers a constant voltage at any current demand between 0 and infinity. The perfectly constant voltage part is not possible without using expensive regulated power supplies (à la Naim, Quad 303, some old Yamahas-Carver, etc), but a near-constant voltage can be achieved by over-sizing the transformer and filtering (also acting as reserve) caps. That is expensive, and in direct relation with two things: 1-The price of the amplifier, 2-The pride the manufacturer puts in its products. Some manufacturers cleverly use high quality regulated power supply for the sensitive input stages, and a non-regulated power supply for the output stages.
It is difficult and impractical to evaluate the power supply on its own, but amp power tests can give us a window into its quality. A perfect power supply will allow an amplifier to give the same power whether it drives 1, 2 or ACD. And to almost double its power in 4 ohms. You will notice generally the more expensive (and generally the heavier) an amp/receiver is, the more these numbers are approached.
A perfect amplifier is, as an old British magazine once coined it, a "straight wire with gain". Amplifying a signal is no small task, especially amplifying voltage with the non-linear current amplifying devices we call bipolar transistors. That is a much more complicated topic than power supplies (I can start another thread if there is demand), but suffice it to say that we can tell how serious a manufacturer is by looking at the design in a shop manual. Starting with the ubiquitous 7-transistors topology, as manufacturers get more serious, you start seeing current regulators, current mirrors, multi-stage differential inputs, symmetrical configurations and parallel output transistors.
Case in point, my Denon 3808CI:
Power Supply: The receiver tests at 186 watts per channel at 8 ohms 2 channel driven, and 113 watts ACD. That translates into a drop from 54.5V to 42.5V, not something to be proud of. It would likely sound much better even at high volumes and cost MORE to produce if it gave 115 watts in stereo and 113 watts ACD.
Amplifier topology: The receiver uses 9 transistors per channel, some Mark Levinson and Harman Kardon power amps use over 35 in the name of open-loop linearity, low-feedback, power supply rejection and low output impedance.
The importance of these on the day-to-day performance can certainly be argued, a sure sign being that the 3808CI is considered like a pretty good receiver by most.