calaveresgrandes,
Yes, all that you say is correct. That's one of several reasons I prefaced my remarks as I did. I omitted several details, as you mention, since I didn't want to write a textbook.
The DC sent to the speaker from a direct-coupled amp is usually at 0 volts WRT ground when no signal is applied, so no current flows through the coil then. Otherwise, a speaker
is a heater in any case, tubes or transistors. (Some of the most impressive damage I've ever done to a speaker coil is melting it by playing too many very loud notes into too much amplification for too long a time for the speaker!) If you put your hand on any speaker coil after a gig it will be warm. For direct-coupled amps to work, there must be a +/- swing around 0 volts, so the power supply is appropriately configured to source voltage at two opposite polarities WRT ground.
And what you say about the clipping is true, though, per the above and depending on the duty cycle, it won't exactly be DC, but it certainly won't sound good, if the cone remains connected to the coil, or much at all otherwise.
What you said about frequencies is pretty much true, too. And the more accurate power one gets from keeping the 10Hz to 30Hz isn't music tone, as I said, but still, it may effect one's perception. Look at a waveform display of a synthesized bass sample with a lot of "sub-bass", such as those used in Hip Hop dance music. If a one-second sample is displayed across a two-inch stretch of the screen, it may well be mostly displaced to one side of the zero crossing, dipping in that direction, and then back. That's a 1Hz sub-fundamental. If we fed that waveform to an oscilloscope with the input switch set to DC, it would look like it does in SONAR, with more area on one side of zero than the other. If we put the input switch of the scope on AC, it will move until it has the same area on both sides of the zero crossing. Can we feel it in our ears? I don't know. Maybe. (I would guess 'yes', just as we feel a change in pressure on an airplane.) Could a tube amp reproduce it? Probably not.
But you are also right about the perception of a bass being "fuller" from a tube amp, because of the range of frequencies that contribute to its 'fatness'. I probably should have used a different term. An oscilloscope will show a bigger swing in the 10Hz - 30Hz range (or a more accurate waveform) from a good transistor amp, than from a good tube amp (all else equal) from the same input, but this does not necessarily equate to 'fatness' in the sound. (It depends on the speaker, too.) And I am assuming that the transistor amp has the current handling capacity to deliver the same power level to the speaker without going anywhere near clipping. If clipping happens in the transistor amp, all bets are off.
Yes, the tubes will handle being overdriven much more musically than the transistor. And the built-in compression of the tube circuit limitations "on paper" do, in fact, create that sound we're after, whereas transistors give back one of two things: an accurate reproduction of a lifeless input tone, or the shredded and mangled shattered glass distortion of a square wave with a "jackhammer" like high-frequency ringing at the edges. Neither of these is as musical as the tube output, which both compresses and reshapes the sonic spectrum of the input.
The reason that manufacturers keep "upping" the power rating of transistor amps has to do with marketing hype and the various ways one can measure "output power", not with any of the physics discussed here.
In other words, you are basically right. (Pun intended)
--thndrsn