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No meter can show flat topping and pinched carriers but then again I never said they could. Any modulation over 100% negative peak will cause distortion and pinched carriers therefore if the meter indicates more than 100% negative peak mod there IS distortion. Then again you could get a distortion analyzer and read the THD directly on it's meter. The HP 334A is a nice one on the used market. I used to use one at work. Wish I had one of my own.