@gochurchgo
I have a couple of Transformer based passives, they are not all created equal. I just had one custom made for me that is minimal in design and function. I also have stepped attenuation based on ladder resistors.
My amp has low gain, only 11.5 db of gain, so I needed to preserve the input signal as well as I could. I am using balanced inputs to the passive, the transformers match the impedance loads on both ends , so they are less sensitive to cables and impedance specs. The balanced voltage is higher and maintained in this passive even though I am outputting to single ended. so I don’t lose any drive with the transformers like I would with resistors or an autoformer. The clarity , noiseless background and dynamics are all excellent. I’m not missing anything. It simply lets the music through without any altering of sound. Transformers turn voltage into current at attenuation instead of heat, so low levels sound more full.. I’m a minimalist and a firm believer in less is more , keeping it simple when it comes to the signal path..
My previous setup was more conventional and more expensive with an active pre Alone was $10k.. I seem to enjoy music more with less spent and less mucking with the signal.