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Old 28th February 2017
Lives for gear

Span has a slow response and isn't super accurate when it comes to riding leaks, There are much better tools for that.
Span gives you a general frequency analysis without the waveform jumping all over the place like it would in real time
which is actually a benefit for what its used for.

As far as your last question I'm guessing you're asking about the combined peak gain level of the entire waveform?
Or are you selectively looking at a specific frequency within the wave form.

If you're trying to find the combined level try this Sleepy Time meter for that. This thing is killer for that kind of stuff. It also lets you check the side and middle levels as well as adjust them as needed. Sleepy-Time DSP VST Plugin Archive! (Free Download)

I should note, its the RMS levels that are the most important to monitor. Most RMS meters are purposely measured slowly to come up with the most reliable number. Peak transients are so fast and sporadic its tough for a computer to respond fast enough to accurately capture an accurate number of them to give you a useful reading. You're better off viewing the wave in a histogram which has grid lines to show you the actual min's and maxes. RMS or Average levels are much more reliable with a moving meter because you have complete waveforms working there. You could simply use a little math and add 29.3% to the Root mean square level (RMS) value and get a consistent peak level that way.