I instrument tested the USBPre from input to headphone output (analog) and was disappointed with the noise results. Why?
While USBPre can be used as an analog-only microphone preamplifier, it is not the best choice for this application. See Sound Devices MixPre, MP-2, or MP-1 for this application. Your scenario essentially tests the USBPre headphone amplifier, which has been optimized for high drive levels and low current consumption (at the expense of additional noise). The main benefit of the USBPre is its flexible, high-quality analog audio inputs, on-board A/D conversion, and simple USB interconnection. Headphone monitoring is an essential function and is a key part of the product, however, the PC Audio output should be used for low-noise analog audio output.