Either what I suggested is true, or the DirectStream DAC has a different tonality at different output levels. They’re similarly priced. Which would you prefer to be implicated here?
For technical reasons, I’m of the opinion that the DAC is the more consistent performer. So any variation being heard as per recent posts would logically be due to differences caused by the pre-amp’s analog volume control.
When you change the volume on the DS DAC, no values of resistance, capacitance, inductance, impedance or anything else I might have forgotten change in the DAC’s circuitry. It’s the same circuit with the same parameters doing exactly the same thing. All that changes is the pattern of positive and negative voltage pulses coming from the digital switches, and as a result you get a larger or smaller waveform coming out of the low pass filter. And I know Ted has focused on preserving linearity in all of the computational aspects of the DAC – you can hear this for yourself with a 24-bit test album that has the same audio repeated at lower and lower levels, starting with your analog system at high gain (or with no pre-amp) and the DS digital volume very low, then increase the digital volume to hear each successive version of the audio sounding completely identical.
When you change volume in a pre-amp you are changing the parameters in an electrical circuit. Something is changing in resistance usually, leading to different responses from the circuit to the inputs that it receives. But changing resistance necessarily has impacts on voltage and current, and potentially from there you have second-order effects which could result in different sound characteristics. The best pre-amps will show the least amount of this effect. Maybe some are so good as to be inaudible, but from what people say about the sweet spot for their systems… I’m guessing most aren’t.

). Hi-end is hard work! After some time vocals are little better, but still not very present. An example I did not like at all was ‘Let it be’ (24 bit). Too much bass, dominant soundstage, where is the voice?