Hello Pascal and Steve,
For my HL2, I see 5.0 watts on Spot and 3.6 watts on a whistle as measured by the Quisk power meter. For my HL1 I used my spectrum analyzer and measured 19.31 dBm for Spot and about 17.9 dBm for a whistle. The whistle signal is noisy, perhaps because I am getting wind noise by whistling into the mic. But 19.3 - 17.9 is 1.4 dB, and 10*log10(5.0/3.6) is 1.4 dB so I think the HL2 and HL1 are acting the same, and the difference is in Quisk. Remember that for a digital radio, the issue is peak power because we can not allow the DAC to clip. So to correctly measure PEP be sure you have a peak power meter, not an average meter.
The audio processing for SSB is much different from Spot or digital. For Spot, quisk sends a constant value at the peak DAC level. For digital, quisk assumes the signal is clean and at peak DAC level, so it uses minimal processing and a bit of ALC. So Spot, and to a lesser extent digital, can both get close to the DAC maximum.
For SSB, the mic signal is filtered to 300 to 2800 hertz, then amplified to a constant level and clipped, filtered again, and then ALC is applied. Without this aggressive clipping and filtering, the average power for 5 watts PEP would be less than one watt. For a clean sin wave into the mic input, you could expect 5 watts PEP. But the system is designed for speech. If I get too close to the maximum DAC level, I risk clipping on a sudden loud noise like the letter "P". There is a bit of black magic to this speech processing, and it lacks the clean predictability of digital. I could perhaps increase the SSB level a bit closer to DAC maximum, but remember that one S unit is 6 dB, so one S unit below 5 watts PEP is 1.26 watts. I think the difference in actual PEP is less than the 1.4 dB measured and that this difference does not matter in real life.
Jim
N2ADR