Hello kfbkfb,
Kirk, The level you see is based on the time used on that side. Generally, the longer the content the lower the level. This is controlled by the variable pitch and variable depth system on a relative basis. The mastering engineer will calculate the absolute maximum level to be used based on the particular program material length. The engineer will then review the content for the side being cut and make test cuts of the loudest sections at the minimum pitch for that level and verify with a microscope that there are no groove kisses at that level. If there are, the engineer will either lower the record level slightly (only a few kisses) or widen the minimum pitch (lot of kisses). Another test cut is then made and microscopically viewed. If every thing is good (no kisses) the the master is cut at that level, pitch and depth. Two or three iterations are not uncommon when setting up to cut a master. I am not surprised by a 15dB difference between the loudest and softest peak levels on stereo and CD-4 LP levels. This is why, as a mastering engineer, I can tell you that we all loved to master 45 RPM singles over LPs because they were all short, loud and mostly monaural!
Lou Dorren