I can confirm that with the Modi set to 16/44.1 I get some hiss when I set computer volume to 5% and Magni volume maxed. When switched to 24/44.1 it's dead silent even at those silly settings.
And yes, Modi has slightly more treble than Bifrost. Do keep in mind though that I'm used to Bifrost, so while it sounds more correct to my ears right now I couldn't definitely say which is more accurate (my ears are just used to the Bifrost from the past year of listening).
Thanks for the responses.
I am perfectly happy at 50% system volume and volume at 9.
Anything under 9 and I get slight channel imbalance preferentially to my right ear.
I just wanted to make sure I get the most of the M&M without losing any sound quality.
Other than that this pairing is much better than my E7 I was using before.
One last question I have is when I turn on the amp with volume turned off after about 5 sec I get a small thump.
Is this the same problem someone had earlier with USB or is it nothing I need to worry about?