Rms volts x rms amps are WATTS. Rms watts are something odd.

Peak amps x peak volts are 2 watts.

Just marketing to produce big numbers.

It's your thread so I'll run with it.

It's been a number of years..  old age is creeping all over. Up stairs too.

RMS..   P-P   IPP IHF  PEP..  PEP  Now that one I don't recall being used in the HI FI world.   THere was a time when everyone had their own power ratings.

Peak to Peak.  When dealing with a Frequency easy to understand.  IPP Instantaneous Peak Power,  I can't say I recall anyone who could tell me "just how Instantaneous" it was suppose to be, IPP also fails to define what kinda peak is being measured.

IHF,   damn.  not sure but I'm thinking it was the "Institue of High Fidelity"
and heck if I recall how/watt they were doing.

PEP if I recall (dusting off my 2nd class ticket)  was Peak Envolope Power,   and agrees that it was a SSB term.    I've not "YET" seen PEP used in audio but (some cob webs just won't let loose)  Maybe some PEP used in the early Sony Beta and VHS recorders.  perhaps  not used to measure power but gain?

Monster cable,  I'll not defend.   But the concept, there's plenty of arguments to support it'.
The interconnects and speaker wire used can and does make a BIG difference in just about any system of "quality".   Yes, most any speakers voice coil can be 1/100th to 1/1000th the size of the speaker wire feeding it.  
When talking of Power here most everyone is talking ac/dc   (no not the black and white long tounged rockers)
either it's an "changing" ac frequency or something with out any frequency at all.
Getting back to Peak to Peak,  it was measured at a "frequency"  RMS also a frequency.
the same with the rest of them.
And push-pulling this back to Stereo..  just how many times do we listen to a frequency?
The only frequency I've listen to in awhile... is that damn 60cps hum I hear when my caps start to dry.

now RMS.. THERE's a way to measure power.  I always thought that was thought up by some politicians who were in the pockets of GE (the first transistors???).
but it's a LOUSY way to measure amplifier power.  
Most of us use our amps to listen to music (or break leases).  But the truth be known...that music isn't A frequency,  but "frequencies" tones.   complex to the n!
ah!  Complex and monster cable..  (I swear I've only had ONE shot and ONE beer)
That heavy cables not about handling extream power, but passing that power fast. really fast.  all the power.  and at all the tones.  highs and lows.  fast.   and here fast is something you can hear as well as feel (okay,  now ya gotta have a pretty nice system)  When your speaking of speakers..  stereos and amps.   fast can mean soooo much more than POWER.
Why do some nuts still hang onto their vacuuum tube stereos?  they ain't got no power!  it's that they know HOW to USE what they've got  (the tubes,  not the people)
That HEavy speaker wire helps ensure that all the musical energy get's to the speaker  at the same time,  with the same porportions.
is it steel or cat gut?   and then there is..  not only what their playing.. it's also WHERE they were when they performed.   SOUND STAGE..  who is where..  left to right..   front to back.  
there's soundstage in speed.  
Well,   I guess I vented!   whew!    next time...  let's due THD.. SID  and TIM. or was it TID?

and speaking of rant's..  what's with digital tv antennas?  isn't RF   RF?
my OLD tv ant. receives both AM and FM..  yeah,  we strip off the video and audio..
you mean my analog antenna can't see the digital crap on that rf?

and I STILL say that old mare BESS can yank out a tree stump long before your 5.5 hp lawnboy.  and she's by herself.   won't even work up a sweat.   (didn't someone need some mare sweat?)  and speaking of bio-mass.. she'll (BESS) will give you some of that too!

Should have used 230V, like we do over here. Less current needed for a given power, so less voltage drop in the extension wires.

Us Europeans...

Should have used 60Hz, like you do over there.

But this would be plain logical and common sense. Which isn't that common, it seems. Doesn't change the fact that power ratings may be overrated. So, next time you buy a power saw, will you buy one that is NOT marketing rated? Because if you don't, you'll be supporting the marketing hype...