Paul,
There is more than enough room in there for even a couple of multi-pole filters and a common mode choke -- I've seen the size of a fingernail.
This box is almost 4 inches long, 2.x wide, and 1.1 tall -- plenty of room for a pile of circuitry. It also has only two settings -- not many as one would guess with some many different IEMs and headphones.
My friend who told me about this has super sensitive IEMs and listens to IEMs most of the time and he said this little box is a must. He's tried all the other attenuators that he could find and none of them could do anything like this box.
As I don't have an assembled s.e.x. amp, I cannot try anything, but the input impedance of the thing is 16 ohms and the output impedance is 2.5 ohms in sensitive mode, and less than 1 ohm in super sensitive mode.
Actually, I don't want to analyze this anymore -- a very trusted friend with ultra sensitive IEMs, who has found nothing else that works, uses this and believes it is a must-have for IEM (and sensitive headphone) users.
Whatever it is, they wwouldn't put it in that big a case if it were only a couple of resistors, especially knowing that IEM users really want portability as part of the system -- I know I sure do, and with my Dragonfly Red mounted to the back of my iPod, there is simply no way to add this device to my portable listening setup.
I actually don't even know how my IEMs sound with the dragonfly, but people say it's not the best for sensitive IEMs.
Well, even if the box is packed with floobydust, I'm getting one.
!
Take care,
Jim