For a 208/230V 3-phase 60Hz motor operating at 40A, the voltage per leg is typically 120V when measured from a phase to ground. The discussion emphasizes the importance of measuring voltage and current accurately using a voltmeter and clamp-on meter. It clarifies that in a 3-phase system, voltage between any two phases is 208V, while the current is evenly distributed across all three legs. Additionally, when starting, the motor can draw significantly higher current before stabilizing at its full load amps. Understanding these parameters is crucial for proper motor operation and to prevent overheating or damage.