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Yup.

And if we were to be totally honest about scope use, we also both know that gauging 30% modulation is also ball parking it.  I mean; how many of us use a gauge on the scope screen and measure?  Not I.  But we can see distortion and cannot count it in as part total % of modulation.  That's recognizable, and also a trap for new players.   But voltage/amperage/freq settings; those are easily more definable.