How much would a better design add to the price? Are you referring to some kind of VCA? I guess design philosophy trumps tech in many cases. At least it's not a 6-gang volume control, like the one in the integrated amp I bought in the early-'80s. Sounded great, PITA when the control was dirty. Had to remove and disassemble the control to clean it.
Doesn't your Quad preamp use a similar pot (ganged) for volume control?
As for S/N ratio, how low is low enough? Unweighted, it's -88dB, A-weighted is -108dB. The Quad 34 was rated at -105dB A-Weighted with the volume control at minimum. Connected to source devices, its S/N was nothing special but then, that doesn't tell the whole story about its sound quality, does it?
FWIW, I think the Parasound P5/A23 combo sounds pretty good, using old technology.