[TenTec] Question re Orion vs Icom IC-7800

[Randy K7RAN]

Last night I worked a very nice fellow on 40 CW who had just taken  
delivery of his new IC-7800 yesterday. I understand that this is a  
$10k radio (or basically 2.5 on the OCS [Orion Cost Scale], hi).  
Afterward, I was curious and went to the Icom web site and read this  
bit of marketing copy: "Icom's 40 years of analog RF circuit  
experience combined with cutting edge digital technology results in  
an astonishing 110dB receiver dynamic range and a +40dBm IP3 in the  
HF bands. A first in Ham radio!"

Questions:

1) How does their quote "astonishing 110db receiver dynamic range"  
compare with the Orion's performance? Isn't it true that our Orion  
receiver beats it pretty handily?
2) What does "+40dBm IP3" mean? How does that compare with Orion?
3) What does "A first in Ham radio!" mean? Are they saying that their  
specs are so tremendous that they beat anything out there (including  
Orion's superior specs)? Or are they saying that when they first  
brought this radio to market nobody could touch them at that point?  
(Or, praytell, is this just another example of someone testing the  
FTC's truth in advertising provisions?)

73,

Randy K7RAN