Hi folks: Here is my take. I run a DIY DAC using the digital volume control of an ESS 9018 chip. Now before folks get their panties all in bunch regarding digital volume controls lets look at the facts with how the ESS' works. It controls volume using 48 bits of resolution, so there is no truncation of actual data, even with 32 bit files. Additionally, ESS specifies all noise products (in this case that would be quantisation noise) at below -170 dB, so we can be sure this VC is going to be as transparent as is possible. My amplifier is a PASS X150.5, this amp has 15K input impedance per phase, and produces full output with 1.75V of input. My DAC's gain is set such that it reaches 1.9V of output at 0 dB, and the output impendace is a littel high, at 180 ohms per phase, but still well within the 10x margin often recommended. So between DAC and amp I have a reasonable impedance difference, and a very good voltage gain match. The other factor to beware of is current drive.
When I first tried removing my Ayre K5xe-MP preamp, and driving the amp direct, I did notice improved transparency, and a slightly lower noise floor (my DACs noise floor is exceptionally low, even compared to the quiet Ayre pre), but, I did experience reduced dynamics, aspecially micro dynamics. My conclusion was that the (relatively simple discrete MOSFET) output stage of the DAC did not have enough current drive to produce optimum results with my amplifier. Then the designer of my DAC released a new version of the ouput stage circuit. This version paralleled 3 MOSFETS per phase, where previously there was only a single MOSFET, increasing the current drive. With the new version, listening tests confirmed that going amp direct was now at least equal in dynamics to having the Ayre pre in place, and transparency was improved.
Now I run exclusively in DAC direct mode. The answer is, we have to listen in our systems to decide if this approach is going to work for us, but a technical understanding of what makes for these differences is also very helpful. If the DAC has adequate current drive, adequate V out, and a good impedance match, and the volume control implementation is well done, the only reason (with a single source system) to prefer a preamp in the chain woudl be to add a certain desireable coloration to the system. I am not saying that there is anything wrong with adding color if that is someone prefers, but that approach is not for me.
Note that AudioExplorations' Medea+ DAC has a super beefy output stage, which will likely drive any amplifier as well as any preamp in existence. Take a look under the hood of the Medea and you will see what I mean.
When I first tried removing my Ayre K5xe-MP preamp, and driving the amp direct, I did notice improved transparency, and a slightly lower noise floor (my DACs noise floor is exceptionally low, even compared to the quiet Ayre pre), but, I did experience reduced dynamics, aspecially micro dynamics. My conclusion was that the (relatively simple discrete MOSFET) output stage of the DAC did not have enough current drive to produce optimum results with my amplifier. Then the designer of my DAC released a new version of the ouput stage circuit. This version paralleled 3 MOSFETS per phase, where previously there was only a single MOSFET, increasing the current drive. With the new version, listening tests confirmed that going amp direct was now at least equal in dynamics to having the Ayre pre in place, and transparency was improved.
Now I run exclusively in DAC direct mode. The answer is, we have to listen in our systems to decide if this approach is going to work for us, but a technical understanding of what makes for these differences is also very helpful. If the DAC has adequate current drive, adequate V out, and a good impedance match, and the volume control implementation is well done, the only reason (with a single source system) to prefer a preamp in the chain woudl be to add a certain desireable coloration to the system. I am not saying that there is anything wrong with adding color if that is someone prefers, but that approach is not for me.
Note that AudioExplorations' Medea+ DAC has a super beefy output stage, which will likely drive any amplifier as well as any preamp in existence. Take a look under the hood of the Medea and you will see what I mean.