It depends. If you have low-power rating speakers and use a lower gain preamp tube (at the hottest a 5751 - but a 12AU7 may be better in that case). You also want to bias the amp on the hot side - then you can drive the amp hard enough at that kind of volume setting and have it sound decent. But if your speakers are fairly tight, new, have high power ratings and you're using a 12AX7 or 7025 preamp tube it may sound pretty thin. Note - I say "may". There are a lot of variables, so it could be fine...but it probably needs to be tweaked a bit. VR's and DR's I've had didn't bloom until the volume was at least in the 4-5 range even with low-powered speakers and 5751's..