Bob from Florida
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The attenuator from Luxman will have several advantages for sure.
A: programmable 'taper'. Memory settings. Can do balance as well as volume control. Much better channel matching (appears to have at least 4 'tracks'), longevity, no scratching pots, smoothness of control easier to achieve, remote control is very easy.
Can be used in AVR's with multiple channels as well which is handy as AVRs are not about absolute performance anyway but about convenience and connectivity.
But... there's a lot of electronics in there. Electronics that can fail, produce noise, add distortion, limit bandwidth in other words change the original signal in other ways than just amplitude.
A similar thing can be said about relay volume control. There are mechanical contacts that can fail (relais). There is less electronic components in its path so less distortion/noise. One can do similar things with this as the Luxman one but this one will be bigger in size and make audible clicks when changing the volume (though that could be damped if needed and very quiet (reed) relays could be used. I have seen relays and reed contacts fail more often than I would like.
Then there is the stepper. Nice L-R balance, taper can be determined in the design, lots of mechanical contacts, longevity depends on the contacts, can have multiple decks. Limited amount of steps, needs separate balance control, needs a coupled motor for remote.
No noise (other than the resistor noise) nor distortion (other than those from the resistor material) is added. Cheaper ones may have 'coarse' steps.
Volpots can be total crap. They can have substantial channel imbalance, the semi-log taper may not be changing at the same spot, they may become scratchy the day they were made, longevity may be poor, needs a motor for remote control.
Tactile feel may be crap but then again... these pots will be very cheap, take up very little space (try to use all of the above in your portable amp).
Then again there are also very well made pots that do not cost an arm ad a leg, have good enough tracking over the most used volume range and do not scratch .
I have 3 RK27 pots in use for well over 30 years and all of them still feel 'nice', don't scratch. One can even get these motorized if need be.
It is better than the LDR and the wiper contacts and resistance tracks are not a problem (obviously) in this pot.
They are simple and do not add distortion and noise that is higher than that of the needed electronic components that are used in front and after the volume control.
So.. it depends on what factors are important to you what your top pick would be. Volpots certainly are better than any LDR. LDR's can introduce distortion and noise that may be preferred by some. More accurate (closer to the truth when truth means signal fidelity) LDR's are not.
I appreciate the balanced thoughtful reply. The electronics involved in the Luxman is indeed more complex. The wisdom of this purchase will play out over time - 3.5 years left of the 5 year warranty. So far so good. The Yamaha version - A-S1100 - I bought prior to the Luxman had to be returned within the 30 day window. Within 3 days its computerized attenuator started changing volume on its own..... So, I do have some idea of the complexity risk.