In this case, I agree with the logic as given by the standards committee working group. The math is straight forward, so I am in no compulsion to run any test. Anyway, I currently don't have access any of my audio gear so I can't do any even if I wanted to.But you don't want to test with an average case. You want to test with an extreme case.
Another angle to look at this problem is from the source signal. If you are using a digital signal source, the maximum level is deterministic. You add a margin of 3 dB (or 6 dB if you feel you want to be ultra conservative) for inter-sample overs. Figure out the gain setings, and you'll know what the maximum required output level is.
In Archimago's step 4, he measured the voltage at the speaker terminals with a single frequency sine wave (at 120 or 220 Hz) using his voltmeter. The result is 8.35 Vrms.Yet the fact Pano picked -12 db is in no way at all related to a crest factor of 12 db. Zero connection. He could have picked -40 db, or -3 db or 0 db. The latter two might be dangerous with the test tone for blowing something up. But none of it has anything to do with crest factor. You will only confuse yourself to think so.
In step 5, he squared 8.35 to get 70 W at 8 ohm. He gave his reasons but I'll explain it in relation to crest factor.
8.35 Vrms into 8 ohm gives 8.7 W, not 70 W. At 70 W and at 8 ohms, Vrms is 23.7 V. If it is a single frequency sine wave, V_peak will be 33.5 V. Then the requirement is set such that the amp only needs to provide a peak voltage of 33.5 V.
With a CF of 12 dB, the ratio of V_peak to Vrms is 4. Therefore, a signal with CF of 12 dB and V_peak of 33.5 V with give a Vrms of 33.5/4 = 8.375 V (which should be 8.35 V but is off by 0.3% due to round off errors). Now you see where the 12 dB CF came in?
Because both signals have the same Vrms, therefore (average) powers and sound pressure levels are the same. However, the 12 dB CF signal will require an amp that can output a peak voltage of 33.5 V, which is "equivalent" to an amp outputing 70 W into 8 ohm with a single frequency sine wave.