Value of a preamp?

@OP - Well, impedance matching and volume control are two fairly critical functions. For the preamp naysayers, the reality is that any source component that can drive a power amp effectively has a preamp in it. So it depends on how good a preamp you want.

@tonnesen - I only saw your comment now. Very nice system BTW. The Playback Designs player is unusual in using an analogue volume control, thus achieving volume reduction without throwing bits away. How it compares to a preamp of commensurate quality for your system could only be judged by listening - of course:))

@Tonnesen - good article which correlates well with my own listening. In my own case, running analogue and digital sources necessitates a preamp anyway.