Thanks - I have no idea how I did that. I took a AA battery that measured 1.1V with my DMM and measured it with the probes, both read it correctly.
This evening I was able to - as well as I could - calibrate the probes correctly.
After initial calibration, I swapped them between channels and found they needed to be calibrated again. Each channel and each probe must have its own unique signature. Here's the same probe in Channel 1 and Channel 2 (noting that it's calibrated across 0.5V this time):
So then I connected the probes to the same setup (8ohm dummy loads in 8ohm taps) with the same 1kHz test tone out of my Pixel 5a via 3.5mm to RCA cord.
However, now I'm only seeing ~3W on the meters with max gain. Before they were showing ~30W. NO idea why it changed ... I didn't change a thing! I need a function generator ... I'm assuming there's some volume setting on my phone that changed. Or hoping, anyway, that it was a setting in my phone and not something malfunctioning in the MC7300 ... but I have no idea.
This is both channels on top of each other. At first glance, the channels are lying on top of each other pretty well.
The sin wave shows ~6.75 blocks peak to peak so call it 6.75V. V = IR so 6.75V = I * 8ohms. Solving for I, we get I = 6.75/8 = 0.84A. Amps = Watts / Volts, solving for Watts we get 0.84A * 6.75V = 5.7W. Hmph. That's not what the MC7300 is showing ... the meters are showing about half of that (unless I made a mistake somewhere, or unless my 8ohm dummy loads aren't actually 8ohms?)
But that's not the worst part. I then added the channels to each other, the inverted Channel 2. Looks like the channels are uneven ... I am seeing a sin wave with about 0.4V peak to peak, the same frequency as the input signal.
So I've got meters that are way off and channels that are uneven. I'd like to figure out some other way to check each, so I can verify that each is actually true.
(And I keep waiting for the uneven meter issue to come back - the testing above was done with both meters at 0 at rest.)