Low level modulation is a huge waste of RF power?? Hey, _AM_ is a huge
waste of RF power, and of spectrum to boot! Except with unusual
modulating waveforms, 2/3 of the power is in a useless carrier. Now,
compared with plate modulation of the PA, low level AM modulation
followed by a linear amp may be somewhat less efficient (though a waste
of DC power, not RF power), but remember, the modulator, presumably
being a linear audio amplifier, isn't all that efficient either. In
addition, there ARE ways to generate AM with low level modulation and
efficient RF amplification--they have been used in AM broadcast
transmitters.

For the cost of a good high-level modulator, how many kilowatt-hours
can you buy?

Cheers,
Tom