A third:
Let's lay out what you get with this thing.
<snippage>
350w RMS poweramp
Leaving aside the misuse of "RMS" - there's no such thing as "RMS power," although most of the industry ignores that fact - let's assume that the 350-watt figure represents
continuous sine wave power, a very generous assumption for Class D power ratings. The amp can then provide 25 decibels above 1 watt. If the speaker's sensitivity is 98dB/1W/1M, the speaker could produce, at most, 123dB at 1 meter, 117dB at 2 meters,
assuming that the transducers can take that much power and, just as importantly, that they are linear with that much power applied. A 350-watt sine wave contains
instantaneous peaks of 750 watts, i.e.,
3dB greater than the continuous level. Best-case, the speaker can produce 123dB continuous with peaks of 126 dB at 1 meter. That is a really, really long way from 132dBSPL,
and it is extremely optimistic. I'll go out on a limb here and assert that the speaker is capable of less than 120dB continuous, 123 dB peak at 1 meter. The fact that somebody managed to make a meter read higher numbers - assuming that that has ever happened - won't change the underlying limitations of the format and the available power.