How many meters on power amps show true power, do they measure both current and voltage or just voltage and assume an 8 ohm load? And what about power factor.
Meters are eye candy clip LEDs are handy but if you have a lot of power even those are unnecessary. (Unless you like deafness)
None are 100% accurate, but that is not the
fault of the meter itself as you imply.
That is due to the
varying nature of speaker impedance. They do not factor in Current, as no meter could read current, but they read voltage across 2 terminals.
They are essentially measuring the amps rail voltage, and can obviously be only calibrated to one impedance speaker wise, but most can be set to different impedances.
They are not for measuring exact Watts of power to a speaker, as we all know that varies with impedance, but more to get an idea of the relative Watts or power level the amp is being used at.
While not ideal and perfect, seeing one indicate say for example "10 watts" is going to be a LOT closer than one just taking a wild guess at how many watts are being "Put out" to a speaker.