solderdude
Grand Contributor
A basic loudness compensation circuit doesn't "know" the signal level or the acoustic loudness. It only knows the volume control setting.
Yes, this is the biggest issue for 'loudness' correction as was used on older stereo equipment.
The 'compensation' could be quite off when sources with lower or higher than expected levels was connected or when more or less efficient speakers were used. In those amps the volume control position determined the bass + sometimes treble boost.
It consisted mostly of a volume control with a center-tap halfway on the volume control where, using a switch, a network of capacitors and resistors were connected to it which created a tone control that varied with the volume control setting.
There were also more fancy version with 2 taps one at approx. 1/3 and the other at 2/3.
To do it properly one would indeed have to calibrate. The only variable then would be recordings. Classical recordings often have much lower average levels than some squashed popular music with a DR of 3 or lower.