Yes, maximum signal to cover up the noises that are there, then attenuate that mixture after.
The big downside to this is a variable output impedance, but if you're driving amps with high input impedance without a ton of cabling, it's not the end of the world. This can be further mitigated by the cathode follower I tacked on. Without the cathode follower, you have to load the tube down with a lower impedance potentiometer, but the 12B4A is still up for the job under these conditions. You also have to consider that the maximum signal you can feed into the preamp is limited by the 12B4A cathode bias voltage, but it's sky high here so there's no issue.
Sonically the distortion spectrum is more constant in these kinds of designs compared to a typical tube preamp with the volume control up front.