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Sound Pressure Level ... it is pretty much how loud your system is ...
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Basically how many decibels the speaker(s) put out.
SQ = Sound Quality. It too can be loud but it refers to how crisp, clean and clear the sound is.
Anyone interested in good clean thumping music would prefer SQ to raw SPL.
"Rice boyz in da hood" people would just prefer to have guttural, muddy, "hear you coming two blocks away" SPL kind of sound that really serves no intelligent purpose.
It all depends on what you want from your system. :D