Yes, though if the 15-40% is the volume range on your amp, you could get channel imbalance issues at the low end of that range (as I mentioned before). Many (if not most) volume pots have channel imbalance issues at the very low end of their range, so you can sometimes get substantially better performance by setting software volume level to ~50% or so and using the 30-80% range on your volume pot rather than setting software to 100% and using the low end of the volume pot. In addition, most DACs have slightly increased distortion when fed a 0dBFS signal, so some software volume attenuation prevents this as well.
Of course, the chances are that all of the flaws I just mentioned are near-inaudible anyways, so it doesn't really matter much. Out of curiosity (maybe you already mentioned and I didn't notice), what amp/dac are you using?