Right you are George, but some power amps (for instance my Music Reference RM-200 Mk.2) have (true) balanced inputs (created by Modjeski with discrete components, no opamps or transformers. He's a very clever designer) only, and some pre-amps have (true) balanced outputs only (Atma-Sphere's, for example).
I'm sure the Pass x/o provides benefits over the First Watt B4 other than balanced outputs, but that to me is academic. I don't have the $ for the Pass!