A quick update. I’m currently in the process of rebuilding my hi-fi system. It’ll be at a desk office/listening station, used for both headphones and speakers.
I have an old Denon UD-M30 and a pair of Monitor Audio Bronze BX1s for the speaker set up, and an EX5 + Sennheiser HD600s (and others) for the headphone side of things.
I’ve now hooked everything up, and indeed I’ve set the EX5 effectively to ‘DAC Mode’ be turning gain to full (100) for output over RCAs to the Denon, whilst having gain set much lower for the headphones.
I can confirm this works perfectly, without me needing to worry about the EX5 blowing up the HD600s.
Volume for the phones done on the EX5, volume for the speakers done on the Denon.
So far, so good.