Yep, although 56dB of gain doesn't sound like a whole lot, I've rarely needed more.
With an SM57, you will have to use the pad on loud amps. With higher output ribbons like the Shinybox 46, you won't need the pad but you won't need the gain full up. With the Beyer M160 you will need all that gain, and, for acoustic strings, more.
I actually had a loud drummer in not long ago, and with oktava MC012 overheads I couldn't stop him from clipping the ADC. With 10dB pads on the mics and the 20dB pads on the OneBottle, the output (unbalanced plate out) was too hot for the converters. I could have just used the output transformers to step down the signal voltage, but the high frequencies sound airy-er from the unbalanced output. Damn he was pounding the snot out of those drums. :shock: