Watts/amps tell you nothing but how much electricity you're wasting on a task which could be achieved using much less!
The machines Eric has given as examples clearly demonstrate the craziness of these high-power vacs - we have cleaners which consume up to 2600w over here! And if you compare their air-watt ratings with those of much lower powered cleaners, you can see how little difference the extra energy consumption makes to the cleaner's ability to perform. Far more important are the simplicity and width of air ducts, design of brush-roll, surface area of bags, resistance of filters etc.
These high-rated motors have been in vogue for a while, but many manufacturers seem to be making a concious effort to lower the energy consumption of their machines now. Perhaps to improve reliability, perhaps as part of an effort to 'be green'.