In car audio terms, power = volts ^ 2 / impedance.
If an amp maxes out at 20 volts (unclipped) and is on a 1 ohm load, you have 20^2/1, or 400 watts.
Clipping can seriously screw with the reading a DMM takes, so make sure you aren't clipping or you'll get some seriously freaky number. I pulled around 56 volts out of a 600 watt power acoustik amp before trying to do this. Needless to say, it was not possible for me to clip it any harder. =\