Everything has to go through the volume control, attenuator.
Yes obviously the signal goes through the switch. What I meant was that in an LDR design the sonic signature of the switch itself is not imparted in the signal. A Radio Shack switch works as well as the best Shallco stepped attenuator. There will be no difference. Here is a more technical explanation:
http://forum.audiogon.com/cgi-bin/fr.pl?aamps&1276356977&openflup&548&4#548
and
[url]http://forum.audiogon.com/cgi-bin/fr.pl?aamps&1276356977&openflup&549&4#549
As the OP indicated, Burson states the signal is weakest when it goes through the volume control. The only better solution than what Burson came up with is the LDR IMO.
FWIW, I'm getting one of these Burson units myself. They seem to have an excellent reputation.