I would think that a complete VC bypass would render a better sonic result than shorting the ladder resistors (i.e. simpler cleaner signal path). Also, it would work better as a safeguard to your speakers if someone accidentally presses the VC from 63 to 62 with the external preamp set to a normal listening level. Perhaps a discrete bypass switch will be a consideration in the next Horizon upgrade.I had a minor nagging issue from when I got the DAC — the left and right output channels were reversed. Easily solvable by switching the cables on one end. However, I finally got around to fixing it and then I got carried away a little. Call me an old school fan of vintage CD variable out and fixed out.
BTW: has anyone used the Horizon's two (which I assume are L & R channel) "Sub Out" connections to drive a pair of Subs directly from the DAC? I think it is an excellent design feature and I'm thinking of trying it. However, I don't know if the Sub Out signal is bypassed (i.e. defeated) when you select "63" or whether it is simply controlled by your external preamp in the same manner as the linestage? Your guidance or experience would be appreciated.