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Most of contemporary sound decoders use Class-D amps (which use PWM to drive speakers directly). They are also very efficient, so they do not run hot.Bus some low-end sound decoders (MRC is one, and probably only-one), still use old-school analog audio amp chip (SMD version of LM386), and an analog voltage regulator (both of which generate heat).
By the way.... this made me chuckle," In the vacuum tube days they used inductive coupling (transformer) to drive the speaker, "You betcha! Just like my Fender Twin Reverb all-tube guitar amp, where a lot of the weight is that big ol' output transformer.