I realize this thread is very old, but I am experiencing the exact meter discrepancy you are having with JJ’s. ~10db of gain reduction on the meter with only 5db of actual GR. My build is brand new (newly completed Drip V2) and otherwise functioning perfectly. The JJ tubes test and sound fine. Curious if there is any workaround for this issue or if this is actually normal behavior?
Just chiming in too ihearttubes, it is an old thread ;-), certainly not disagreeing with troublereports point, but like you I have a DRIP V1, full of JJ's - working flawlessly for years.
Although I did buy all tubes from someone who handpicked and matched as best they could, so i paid extra for that service.
Don't sweat the VU problem, i spent an hour on the phone with Greg (DRIP) on VU's, its a rabbit hole, and seems its just a fundamental challenge with even the originals. I just let the VU's be, and use my ears 1st then look at my console and DAW meters to get the gain reduction i want.
I just allow my Fairchild to be old and graceful in the rack, and let the meters dance around as a form of entertainment.
I can hear what it does, and I just dial it in and out to what I like ;-)
but I get in a measurement world, that kind of thinking isn't acceptable.
#privilegedtohaveanyfairchild