Alex, and everyone, thanks for the detailed notes and all for the help.
"These must be specific to a certain sound card driver and control panel. The plain Windows 7 mixer interface does not have "VU meters" (...at least not on my system. My separate Terratec control panel has volume level indicators.")
You are correct, "VU meters" was my inaccurate way of describing volume level indicators, a flashing green streak of light in the Windows 7 Mixer.
"Probably you are using an output mode that bypasses the Windows mixer (WASAPI, ASIO or Kernel Streming) if the meters do not show any indication of the audio output. You could try the Direct Sound mode."
Correct again, Direct Sound installed as the default audio output mode, and the green flashing indicators worked, switching to WASAPI Event Mode (My preference) and the indicators did not flash. Maybe I am loosing my mind, but I could have sworn that the indicators were working in WASAPI Event Mode. So that is my ignorance.
"As a test, you could set MC to use the Internal volume option (set it to maximum) and the Direct Sound output mode without any DSP options checked in MC's DSP Studio."
Yes, that does work! But isn't WASAPI or WASAPI event style (if supported by the hardware) the better choice? Direct Sound sounds a bit brittle to my ear, but as suggested above, it does punch up the volume.
One more question, if I can add DB levels via the sound card output, would that be preferable to MC 16s pre amp settings in equalizer?
Thanks for the help, as I try to navigate through this.