BillyBatts
ALOHA!
The simplest answer is that the old receivers were designed to drive speakers and the newer stuff was meant to hit a number on the FTC test driving an 8 ohm resistor. Stuff in the 70s was far more expensive than the modern day stuff, had fewer channels, and fewer everything. Different level of expectation from the buying public as well.
Boy, it sure was.
Using the website Dollar Times, I calculated how much the $399 I paid for my Yamaha CA-810 in 1979 would be worth projected forward to 2015 dollars.
Today, you'd have to fork over damn near $1,400 for that amp. Yikes. No wonder why my young college self worked so hard to afford it back then.
And as I recall, I got a bargain on closeout buying it for $399. I seem to recall retail being more like $479 at my HiFi shop, with a national retail average of $430 (from Classicaudio.com). Times change, so does the value of money and sometimes the quality of the goods.
Full retail average of $430 in 1977 when that amp was first introduced, would yield a 2015 price of $1,734.00.
Yep, stuff was a bit more pricey back then.