Reg`s statement:
"But it DOES affect the indicated SWR and so the indicated SWR is
incorrect." does not apply to the Bird Model 43 wattmeter.

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I've never seen one but there's nothing special about a Bird. It behaves
exactly the same as those from other manufacturers.

If the line between generator and meter is NOT 50 ohms then the actual SWR
on that line is NOT the value indicated by the meter. As I said, the
indicated SWR is incorrect.

It is important to distinguish between indicated and actual SWR's. It is
fatal to worship the meter as being error free and so make the same
incorrect assumptions as the meter does.
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Reg, G4FGQ