This topic has been coming up frequently.... Should you use a preamp or drive the Maraschino directly with a D/A (like the DAC DAC)? Well, this brings up several sub-topics. The first is simply "why skip the preamp?"....
The bottom line is signal path. The shorter the path, the better, in most cases. Sometimes this means physical distance, and sometimes is means "steps in the chain".
For example, there only an inch between the D/A chip and the output connectors in the DAC DAC. The HS (high spec) version has excellent performance, but for an even shorter signal path, through less COMPONENTS as opposed to distance, the TL (tube like) version takes it a step further (not farther). The TL DAC DAC uses the minimum amount of circuitry between the D/A chip and the output connectors.
Back to the topic at hand.... Every component that the audio signal goes through, even including the traces on a printed circuit board, adds noise and distortion. Sometimes, this "adder" is negligible, and sometimes it's not. Sometimes, it's a major problem.
Let's consider a signal level transformer. For example, a simple transformer-based balanced to single-ended converter. First, transformers don't have response down to DC, so putting an analog audio signal through a transformer results in phase shift and bass attenuation. I'm a big believer in DC coupling because it avoids these issues. Transformers also add distortion, and to make matters worse, it's frequency dependent distortion. Then there's high frequency roll off, adding insult to injury. That's only one component, causing a myriad of issues. Of course, these issues can be minimized, but never negated entirely.
More to come....