Whew, thanks for all the replies guys! I did some further testing with my multimeter and this is what I found:
The readings that I stated earlier (114-122 volts) were what my UPS was saying, but my Multimeter doesn't seem to register such huge differences.
I saw a 3 volt drop phase-phase at the panel when turning on the dryer. After the initial startup it settled down to 1 volt drop. Phase-neutral was similar.
I saw a 5 volt phase-neutral voltage drop at the Amplifier when turning on the dryer, and then it settled down to about 3 volts drop.
I am now fairly certain that it is simply an issue of the Amp being over sensitive. I took it into a high end audio shop and they could not replicate the problem, however their power was very stable (no large loads turning on or off).
I should provide a few more details on the Amp, and clarify what I mean by "clipping". It is not clipping in the audio term (when you turn the sound up above what the amp can handle). I believe it is the toroidal transformer making a clicking sound (it always does when I first turn it on). When it makes the clicking noise the audio stops for 1-15 seconds.
Some more details on the amp:
The amplifier is a Sugden A21a Class A Integrated Amp. It's output is 25watts per channel at 8 ohms and it draws about 1.2 amps (more when its warmed up and music is playing). The unit is hooked up to a line conditioner (Monster Power HTS1000 MK I, which is supposed to be decent), but that makes no difference.
Here are some power specs on the Amp:
"Transformer Triple Secondaries 1-For Phono/Line Stage 40VA 2-One for each channel 60VA each
Main Capacitors Smoothing 1 x 10000uf 50volt per channel Output decoupling 1 x 10000uf 50volt per channel
Power Supply Single ended voltage rail
Output Devices 2-multi emitter NPN per channel
Circuit Single ended Voltage rail
Push Pull output stage All stages emitter follower Cascoded driver stages to give maximum phase shifts. All capacitors used in signal path are high-grade electrolytic (similar to Black Gate) Resistors are 1% metal film with metal oxide emitter follower resistors.
Specification Line input Frequency response 6Hz - 31kHz 30Hz Separation -62dB Noise -77dB Distortion 0.01% 0.01% Sensitivity 150mV 3mV (MM) 0.2mV (MC) Dc offset 5mV Power output 25Watts per channel pure class A"
Unfortunately putting the Amp on a different phase is not possible as all of the loads that cause a problem are 220.
I did notice that the ground cable from the poco is hooked up to the ground, and the ground cable from the rod is hooked up to the neutral, however I dont think this would make a difference? The ground and neutrals were both tight in the main panel, I have yet to go around and check all of the baseboard heaters/appliances/junctions/etc... That will probably take me some time to do.
I have a feeling that purchasing a Voltage Stabilizer or a Online UPS would do the trick, but I havent found anything for under $1000 yet, so I'm going to try everything else I can.
On a side note, I did take the Amp down to another building on the property (newly wired building/new 400 amp service/new transformer) and it had the same problems, however the only load I could test it with was a 34 amp motor (220amps startup) so it probably wasnt a very good test.
Again, thank you for all of your responses, any further insights would be appreciated.
-invictive