The major properties of any audio device is its signal to noise ratio, distortion, and frequency response. Of course, there are other characteristics, but those are what people tend to look at the most when deciding on two similar products. To obtain these properties, an audio analyzer is used (Audio Precision is pretty much the standard).
Signal to Noise
Usually measured by taking the highest signal level your system can output and comparing that by grounding your inputs with a 150ohm resistor (or an equivalent resistance that's in your audio source), and measuring the noise at the output of othe system. 20 LOG * (Voutmax / Voutnoise) gives you your SNR.
THD (Total Harmonic Distortion)
Calculated by taking the root sum squared of higher order harmonics present at the output of your system when driven with a known sine wave at the input and comparing that with the input level. Without scientific measurements, the topic of THD becomes a HIGHLY subjective and sensitive subject when it comes to audiophiles since the high end guys want as low of a THD as possible (<0.001), whereas engineers always claim that you can't hear any distortion below 0.1%, or even 1%. It really depends on where the majority of the distortion is coming from. If it is odd harmonic distortion, the audio will sound harsh, whereas even ordered distortion is more tolerable, and in some cases, desired.
Frequency Reponse
Measures the "flatness" of the amplifier throughout the audio band. You feed a fixed voltage into the system, and change the frequency and plot the output voltage vs frequency to see how flat the response is.
Don't believe all of the specs you see in the products... 50% of them are either inflated, or obtained by unusual circumstances and operating conditions, especially car audio products. For example, I can claim my amplifier has less than 0.001 distortion, but not say at what frequency, or power output. Hence, it may be 0.001 distortion only when the input voltage and frequency is 1V, 1khz and 1% at every other input.
You really need test equipment to measure performance of a system.