first, the comparison that you suggest is highly unreliable; it's just hard to listen to one configuration, change the configuration and then try to get the same volume level from memory.
02-01-11: Rtn1
Even when volume is matched, there is unacceptable loss of dynamics when the digital volume attenuator is used.
second, i agree that listen to a wadia in a direct connect configuration is likely to sound different from that of a through-the-preamp configuration. to that extent, if you prefer the sound of the through-the-preamp configuration, then you are going to prefer the "dynamics" because you just like the configuration better. that's not a matter of any "flaw in the technology" it's just a matter of your own preferences.
i'm not suggesting that there is anything wrong if you say that you prefer the sound of the wadia through a preamplifier. for my own part, for some recordings i sometimes find that i prefer the sound of the through-the-preamp configuration, other times i prefer the sound when going direct to the amplifier. from my observation, the preamplifier acts as a kind of tone control that does change the sound character of the musical presentation.