Yes, it outputs actual 440 watts mono into 8 ohms. But if you want this kind of power, I would suggest instead using the Behringer EP2500 amplifier, as it can drive a much larger variety of loads. In stereo mode, per channel, it produces a measured 450 @ 8 ohms, 650 @ 4 ohms and 1100 @ 2 ohms. In mono, it produces 2000 @ 4 ohms. It has a SNR of -110dB and in any case above, even at 2000 watts mono, it never exceeds about 0.2% THD. It is much lower than this into normal loads and power ranges -- that is the worst case scenario.
-Chris