Dennis A.
I think the 75% target was a safe target--giving the overhead voltage, even at the end of the flight when the battery is getting pooped out.
The trick is to remember what voltage are you using in this calculation---the fully charged voltage (16.8V =4*4.2V) for a 4s pack), or the average loaded voltage during a flight (14.8V=4*3.7). To be honest, I don't exactly remember, and I bet that I have used both values in posts here!
Information from my data recorder shows that I fly level laps at about 280 watts, and in my overheads I peak (very briefly) in the 440 watt range. When I made the theoretical motor plots (posted some time back) for 4 throttle settings (I think 70, 80, 90, 100%), I noted my needed input power ranged from ~75% throttle (level flight) to 80% throttle at the peak 440 watts. So what I think I came away with was that it doesn't take much of a throttle change to really up the watts.
I see I used a battery voltage of 13.8V as the full throttle for that calculation This is what my loaded battery is putting out near the end of the flight. See there is another Voltage to think about!
So 70% throttle would be like having a battery with 70% of that value--about 10V at the end of the flight.