Jim said:

Measuring or calculating PEP with an AM 
signal is like trying to hit a turkey at 1000 yards for most 
people.  I never did understand the reason for changing to 
PEP or for that matter 1500 watts.  Why not 2000 watts PEP? 
If you notice it on your S meter, you have a better S meter 
than I or a better wattmeter.

Outstanding analogy, Jim.
Mod-U-Lator,
Mike(y)
W3SLK
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