I've seen 'spec house' used to describe the house in a tract development which is built to the standard builder specifications; people visit that one, select their options and improvements, and then get their customized houses built.
On 'spec grade' devices...grrrr. 'Spec grade' is a _meaningless_ term that is usually associated with 'top of the line' devices. The problem is that 'spec grade' simply means 'whichever specification the manufacturer cares to use'. If the specification is 'cheapest equipment that meets UL requirements', then 'spec grade' is the $0.39 special at the big orange box. If you are lucky, you might be able to figure out which standard specifications are being met (eg FS596 or something else).
-Jon
