Amplifier knobs...where to "set" on the clock?

You should always set the dials full open unless you have a very efficient speaker that would not let you use the preamplifier volume hardly at all. When you turn the gain on the amp down it can cause a loss of dynamics and contrasts in the music in some circumstances due to the attenuator used on the amplifier.

 Speaker Level Controls:
In addition to speaker A/B selectors that permit one-touch selection of two sets of stereo speakers, the M-70 features independent level controls for the left and right speakers in two stereo pairs. That is, you have independent left and right speaker level controls for speaker pair "A", and left and right level controls for speaker pair "B". These controls let you independently set the maximum power level that will be sent to the respective pair of speakers, protecting low-power-capacity speakers from excessive power levels, or matching the output level of two sets of speakers of different efficiency. Independent control over left and right speaker level lets you preset the balance of your system for optimum stereo imaging depending on the positioning of your speakers and the acoustics of your listening room.

Don't forget to account for daylight savings time.

Speakermaster...thank you...

With your advice...  To me...that would suggest that perhaps since I have a VERY efficient set of Cerwin Vega speakers...101db...Perhaps I should consider backing the gain off a tad...maybe from Full-On 5:00 to 3:00?  allowing the preamp to "breathe" a bit? Am I making sense?

Also...hobo1452...thank you
With your advice...to me...it suggests one of the reasons for the gain control at all is about a high wattage amplifier not over powering and "cooking" a vulnerable set of speakers... i can customize the output safefly and correctly...while still allowing the preamp to do its job.  Am I making sense?
vinylspin

As with many things, try the options and see. Noon? 5 o'clock? I bet your system works better at one of them.