That's true but rare in music, for pops, jazz etc., even 10-12 seems rare but I do believe the more power the better. However, the OP should not expect to hear night and day difference by doubling his amp power. As you said, it's only going to affect those peak moments, rare and short peak moments.
Agreed, 10-12 as a reasonable number for popular music.
You know this stuff better than I.
For non-EE like me, this article is interesting read:
http://www.gcaudio.com/resources/howtos/spkramp.html
The OP has posted an interesting example. The speakers are specified at 8 ohms. From the above article, 20 volts at 8 ohms is 50 watts. However, the Tannoy XT8F I dip to 2.9 ohms at 100 Hz.
A user may obtain a 50 watts power requirement using a amplifier power calculator. That answer is not accurate for these speakers. A 100 Hz tone into the XT8F's (were they fully resistive) is at 2.9 ohms requires 137 watts (20 volts squared / 2.9), almost 3 times the power.
Speakers are reactive loads not purely resistive. Not all amps are linear into load and providing only one frequency - 137 watts may be optimistic.
Listening to decent recordings, with 10-12 DB dynamic range, on an amp that struggles to put out 120 watts (your average receiver), can fail to produce the current to maintain the voltage. What does that sound like?
Well, amps are pretty good at clipping, much better than the used to be. So most likely it sound like less sound and perhaps audible distortion (though it has to get pretty bad for most to notice). Since now one can hear what is not produced, it sound just fine until you can compare it to something with ample power.
- Rich