I'll tell you what, not every engineer writes off power cords as snake oil. The engineer I currently have working on our amp is a big believer in high end cables and power cords. This guy is an electrical engineer with decades of experience building and servicing equipment, as well as being a FOH engineer for many of the biggest names in the jazz circuit some years back. He used to build power amps used in some of the finest recording studios in the world. In other words, not a guy with no technical background making unfounded claims. I've always blown it off as snake oil myself, but he has show me a few things that have opened my eyes.
I'm still not convinced there is anything magical going on with a $400 power cable, but I do believe that at some point the lack of quality in some cheap cable made with crappy components, will become evident when compared to a superior made product. In our amp, for example, our engineer had me upgrade from the cheap amp cord that come with most amps to a better built 14ga power cord. Nothing boutique, mind you, just a better quality cord with better connectors and heavier wire. We also re-did the wiring between the power supply, power amp and speakon jacks with better board connectors and heavier gauge, silver plated, mil spec, teflon jacketed wire and the difference was clearly audible. The amp with the new wiring has a little bigger bloom to the low notes and a little better clarity in the top end. Sure, the difference is fairly subtle, but it's definitely audible. Do I have a bunch of scientific data to back up that claim. Nope, not worth spending my time, or money on. My ears tell me the different wiring is worth implementing, so that's that. Very unscientific, I know, but if I like how something sounds, I don't really care about the science behind it.
What would Richard Feynman do?... He would set up an experiment.
The science is very simple. Voltage drop into an unregulated power supply. You can just monitor the rails to test this.
Newbies always ask what size amp to get. Some guys say that you need 1000 Watts, but only turn it up to 1 or 2 for headroom. But they have the same power cables as 15 Watt practice amp.
The power that gets to the rails is the issue. An undersized cable will have a drop when current is pushed. A variation in rail voltage is audible. Nothing for the net to get excited about.
It is snake oil when someone takes a $5-10 power cord from Newark or Mouser and surrounds it with a bunch of hype, then sells it for $150. Companies that gouge the customer don't stay in business long.

