I don't understand the analog out. I thought that was line-level from the DAC before the amp. Why is the volume pot involved? And why wouldn't all-the-way-up be line level? Line level is about 5% on the volume pod when outputting to my RS P-51. Is the analog out amped from the Audioengine??
My understanding is the audio goes from DAC through Volume to the RCA out, with a line-level signal (RCA is not amp'd). The volume acts as an "attenuator-only" for the line out, and there is no amplification. My DACmini does the same, while on the HDP the RCA out has gain and it's a pre-amp. Then, when headphones are plugged in the signal is routed to the headphone amp instead of the RCA jacks.