IIRC it was quite good from a measurement perspective, but poor on current delivery, i.e. not suited to many of the real amp-sucker speakers of the time (e.g. Kef 105, Linn Sara, Gale 401 etc). It was however a superbly reliable amp and will have been used on many of your favourite records as most studios ran a 405 into nice easy to drive Tannoy SRMs as the full-range monitors.
Here's a picture of Abbey Road in the early 70s:
Speakers are Tannoy Lancasters (15" Monitor Golds), notice the Quad amp sitting on the carpet underneath the speaker, I assume it's a 50E rather than a 303 purely due to where it's sitting. This would have been before the 405 was released. I've been in plenty of studios that used either 303s or 405s for both the full-range and near-field monitors. They were bullet/idiot-proof amps.
Tony.
My first experience of the 405 was doing a weekend job back in my teens at a little East London studio, East Street. Now long gone but stuffed full of great kit from Tannoy & Revox, plus a single Quad 405 beneath the main desk doing main speaker monitoring duties. I can't recall the main Tannoys but having seen a few since I'd say they were SGM or SRM or possibly mid sized units using HPDs, with the obligatory little Auratones perched on the desk proper.
Fantastic times and of course a great opportunity to hear live v recorded sound.
Mostly recorded Reggae and small rock bands.
Anyway, onto the 405 proper, the only potential issue with the Mk1 was restricted current output as you say. However it was enough for the amplifier to deliver full spec into >5 ohms. A 405 has very low output impedance (0.03 ohms), worst case THD at 0.05% and also very low IMD though I've not the figure to hand. All other specs are comparable to a decent SS amp built today, but the ace up the sleeve is that it doesn't drift with operating time (temp) or age, within reason.
Strip out residual hiss from the THD measurement and relax the upper frequency limit to 15khz and 0.003 is a typical figure. Very low in other words.
The later 405-2 relaxed the current limiting and the amp will now drive 4 ohm loads perfectly well, but will also deliver 50w into any load just shy of a short circuit. Worth mentioning as many amps with high power ratings just shut down under such punishment.
The problem with amplifiers such as the 405 or the bigger 606/909 is that for many they represent game over. The goal of reducing amplifier distortion to below audibility has been reached. Walker went even further and claimed that the 405 was designed to provide higher SPL and improve reliability/consistency. No claims were made that it sounded better than the older 303.
To take that argument further we have to look at the expectations of the target market. Quad were unfortunate in this regard in that much of their market were on the one hand professional users, were quite different methods of assessment are at play, non audiophile music lovers with no interest in the latest hi-fi 'hobby' announcements, and on the other hand the specialist home audio fraternity for whom a more than competent capable amplifier, in a small case and at a reasonable cost represents complete anathema. What is there to write about, fill subjective audio columns with etc when it's a case of job done?
The old adage of turkeys voting for Christmas comes to mind.
Of course none of this matters if what you seek is an amplifier that imposes character of signature onto the signal. Nothing wrong with that position so long as listeners recognise that any subjective benefit isn't derived from some innate goodness within the amplifier, but simple manipulation of measurable performance to create effect.
The case I've mentioned before of Lowther drivers sounding better with relatively poorly specified SET amplifiers is a good example. A 'failing' within the amplifier is mitigating a characteristic within the speaker and the overall result is subjectively more pleasing.
That is fine but such cases are small in number, and there are arguably other ways to give a similar result.
For me, future amplifier development is about improving efficiency, and increasing output capability, with secondary consideration being reducing costs and improving the provision of facilities. Those are the only areas where progress is possible IMO.