[Elecraft] [K3} Setting K3 and WSJT-X levels?

[Don Putnick]

I know about how to use the S-meter to set transmit audio level (4 bars).
What I've yet to find anywhere is a discussion on whether to favor the
sound card output or the mic gain. In other words, is it better to have a
lower sound card output and a higher mic gain, or vice versa, or does it
matter? And why?
73 and Happy Thanksgiving!
Don NA6Z