As
@fourrobert13 explained - despite the many who believe gain increases quality, all it does is what it says. Increases gain (or volume) on everything - including the noise floor. If you can get loud enough for your needs on low gain, you should always use low gain. The main issue with most people's anecdotal observances that high gain sounds "better" is that they don't volume match. Louder sounds better to us. In reality - all you need to do is increase the volume on low gain - you'll get the same result.
Gen comment.
And before someone pipes up that on their system, to their ears, high gain is better ...... it actually can't. It's the same signal with a uniform increase in dB (volume) - thats why its called gain. Use test tones, and an SPL meter to volume match exactly, and then get someone to help you with blind switching. You won't tell the difference in a blind test regardless of what you believe.