Anyone else want to chime in on this (and maybe why this is) because I was wondering the same thing.
My cMoy with a 12V regulated DC power supply is connected to my iPod (running rockbox) through a Fiio L3 LOD cable.
When the cMoy is maxed out (dial at 5 o'clock), I listen to music at about -88dB on the iPod, which is almost as low as it will go.
At about half volume on the cmoy (dial at 12 o'clock) I run the iPod at -77dB.
At a little less than 1/4 volume on the cmoy (dial at 9 o'clock) I run the iPod at about -60dB.
When I used to run it through the iPod's headphone jack, I would listen to it at about -30dB with the cMoy maxed out.