Jim, That is our point exactly. With a two-prong, non-polarized cord, you could flip it either way. "Hot" could be on the left wire or the right wire as it goes into the amp. On the older gear those two wires typically go to a fuse on one wire and a switch on the other wire and then right into the transformer - no polarity.
With the IEC, you have to get it right. You want to switch the hot wire not the neutral. Because if you switch neutral the rest of the amp is still hot. If you open it up to make a measurement, you could get fried between the chassis (now grounded back to the electrical box) and the transformer, fuse, or any part of the amp wiring that connects back to the transformer primary where the 120 VAC is sitting. If fact, it is best to switch both legs of the input power coming in to the amp on a DPST switch rated above the mains voltage and 150% of the current. The other possibility is a short in the transformer, it will probably go to ground and make the chassis live, not good unless the chassis is properly grounded and fused.
So on my Corcom IEC jack the hot wire is brown, the neutral wire is blue, and the ground wire is green with a yellow stripe. I will install a DPST switch on the brown and the blue wires, put the 10 Amp line fuse on the brown wire, and then wire it into the transformer. The blue wire will come off the switch and right into the transformer. I will place .1 mF, 275 VAC, X-type capacitors across the poles of the switch to absorb the arcing in the switch. The green ground wire will be bolted to the chassis and wired to a parallel 35A bridge rectifier as a path for fault currents, a 10 Ohm, 5 Watt resistor to reduce loop currents, and a .1 mF 250 VDC capacitor to block RF interference; then on to the ground connection of the internal electronics.
Mark