@tholt ,.. The gain reduction is mainly for matching the pre to very sensitive amps,..(ie, solidstate) where there would not be much play in the VC. It is best left un-engaged if it is not needed but is pretty transparent when in use. With most modern source outputs being in the 1.5 - 4v range, the main VC really shouldn't ever need to be raised above the 12'oclock position. Much beyond that you could start to overload the input with such a high source V. The pre is a VERY high gain device and easily accept very low v. sources (ie,. iPhone, etc..).. I find the best volume knob range to be around 9-10'oclock for standard ~2v source components.. if this is range is too loud in the room,.. use the gain reduction to set a goo volume, then leave it at that position and go back to main VC as standard adjustment.
From a tube standpoint, you won't really find any useful gain reduction with the tubes the pre will accept. The 6L6's are circuit voltage regulators only and do not affect gain,.. they just provide a rock steady voltage for everything else to run on.
Hope this helps, Best,