@dcevans you running signal thru the preamplifier AND the ( purposefully vague on the specifics ) unique NAIM analog / digital volume control. i use it in a similar way w outboard power amp and agree for the $, footprint and streamer/DAC function hard to beat.
in my reference system, i come down on the side of preamp in chain wins…but i have heard a few where that was not the case… sadly, extended listening is imo the only way to know….