Low gain dac!

@gryphongryph somehow the address on my last post did not take.

That is a nice feature on the Qutest.  

Yes, the high output of many DACs and the high sensitivity (low V required) of many modern amplifiers creates this problem. Too much gain followed by too much attenuation.  Attenuators are best when not operated near full attenuation (<50%).  One reason passive preamps are popular. My system is built around a tube preamp with SS amp. Will likely add a tube amp as a alternative.  

My preamp has variable output gain. This requires two attenuators, one pre and post preamp gain. This is not ideal, a single attenuator would be better. However the gain control allows me to use use both attenuators within the best operating region. A compromise I am willing to enlist. 

+1 Charles

The OP's opening statement was the desire to replace a high gain  DAC with one having less gain.

Well, The OP has a DAC with 4.3V output, far more than needed. Also a high gain preamp and high sensitivity amplifier which on technical basis may not be ideal, however how these play together with the speakers satisfies the OP who only is looking to reduce gain to take better use of volume control. Seems to me that replacing the DAC with one having less than 2V output would reduce the gain by close to 10dB at the source with the least alteration of the sound quality of the system and allow greater degrees movement on volume control.

@gI use a Audio Mirror Tubadour III DAC which also has 2V output. Hard to find a DAC with lower output voltage. The only possible issue is it's 2K output impedance, which like many specs in not a problem if understood. I really like this DAC.

I am not familiar with the Sonnet Morpheus DAC. Will have to research that one, likely out of my budget.