As I've mentioned on other forums, the output transformers used in tube amps and especially SET amps have a real problem with erratic impedance curves. If the curve has a relatively smooth curve the tube amp is actually capable of extended bass as much as an octave (1/2 octave is entirely possible) beyond what a typical SS amp can provide.
The fact that tubes can provide extended bass at a low level may, due to Fletcher-Munson effects, cause the Tube amp to actually sound louder.
As for a watt is a watt, it depends on the current and the impedance load. This, is perhaps another reason why tubes sound so powerful as well. It certainly has motivated Nelson Pass to attempt to achieve with SS, what a good tube amp is capable of. His "First Watt" designs are single stage, single ended Transconductance modeled a on SET Tube topography. He attempts to get by with as little Negative feedback as possible (SE Triodes are the most linear device ever created and need miniscule amounts, or no negative feedback) and has seen improved sound as a result.
Without getting into negative feedback, damping factor and THD, I can only say that much of the thinking has changed among designers in the last few years with a lot of the common knowledge of yesteryear being really out of date.
Best Regards,
TerryO