The more I think about this, should I adjust the JRiver volume to maximum and then set the gain on the speakers to zero....and slowly bump it up until the clip light comes on? Then, leave the gain on the speakers at that point and going forward adjust volume via JRiver?
-Jim
That will work, but you forgot a step: turn the speakers back down a little at the end! If your clip light actually reflects a clip (and isn't just a "signal" light AKA a pre-clip indicator) you don't actually want the light to ever come on. You want a maximum volume signal that almost turns on the light.
Make sure to use something like a -3dBFS sine wave for testing or you won't actually get a peak measurement.
That won't necessarily maximize your SNR for normal listening though as you'll probably wind up doing a ton of digital attenuation in JRiver (your speakers may play much louder than you'd care to hear for very long). In practice, you'll probably want to turn the analog volume controls on the speakers farther down than "nearly clipping." You want to do as little digital attenuation as you can get away with. I'd recommend setting the max volume in JRiver to be as loud as you'd ever want to hear, not as loud as the speakers will go (assuming the former is lower than the latter).