Stereo Preamp. I've had some other issues with the loop. Every once in a while when I'm not running anything in the loop one of the channels will drop out. It doesn't drop out entirely but the bass frequencies disappear and the volume is cut big time. As I understand, it's because the loop is in series and if any dust gets in the A and B return jacks they'll basically short. If it is cutting the signal at the loop but I still hear something, what you say about it not sending 100% of the signal through makes perfect sense. I just wanted to avoid another cable, but I guess I'll need to find another spot for it in the chain. Thanks.