Pug what source were you using? If it was the phono input then yes it could / probably would sound different. As Sean suggests, this is a phono stage loading option & would not affect any line level inputs. Look again to see if there is another switch for cartridge loading resistance. You might see values of 47k-Ohm (standard value) & then some much lower values - 100 Ohm, 50 Ohm etc. If you use a moving magnet cartridge then the likely recommended termination is 47k. For moving coils, try the lower values & determine which sound that you most prefer. Experiment with different combo's of capacitance & resistance too.