Why was the change made from 5 to 4.. As someone pointed out they are nearly identically The measurement is taken at a different point.
In the old days when the power was 5 W in to the final many radios had tube type finals. And you measured the voltage and current going into the final and W-IE ((This is a DC circuit so that's the formula. Believe it or not that is NOT the formula for an AC circuit other than pure resistive).
Measuring RF-Power was much harder. Basically took a lab
Today RV power meters are common. Amplifers are solid state
If the final is 80% efficient (Which is fairly common among Tube and Solid state finals) 5 Watts in = 4 Watts out..
And in fact that is how they determined the "new" (4 watts out) method. they measured a 5 watt (in) Radio. or many.
The biggest difference is in the receivers. Now I will admit a well tuned Tube type receiver can be very impressive... I hope to buy one. and I can make them even more impressive (The one I hope to buy has that feature built in. but then it was my FIRST Short wave Radio Receiver)...
But modern Solid State receivers are very very well designed and it takes a lot to beat them in the senistivity department.
Plus better noise filtering
Means you can HEAR more.
And one rule I have with my 2-way Radios... If I can't hear 'em. no point trying to talk to 'em.