When the MMe clips, it sounds more like a singe-ing sound (if that makes any sense) than a pop.
As odd as that sounds, Jason, that's a pretty good word for what I hear my V3, too. It's almost as though the ADC doesn't clip but rather just compresses the snot out of (i.e. limits) the signal when it hits 0, resulting in a kind of fuzzy, singe-y sound that is obviously more noticable the more severely the signal clips.