Hope it gave you an idea of what you need. I trust the mark my teacher gave me 100%, as he is supposedly a "legendary figure" in modern marking, as he had been doing it for 25 years (15 years as a senior marker)
By x factor, I think he meant it didnt blow him away. Maybe my argument could have been more sophisticated etc. But basically, my tutor (HSC marker for modern as well) marked it and he said it was a potential 24 but most likely a 23.
Dont get me wrong, I was thrilled to get 94.8. I thought I was going to get low 93's at the very most (I was reasonably expecting 92) - when I saw my marks and ATAR I nearly died from happiness . My goal had always been to get 95, but mid way through year 12 I thought it was beyond reach. Even though I was 0.2 short, I still consider the goal reached.