I think you are taking it a bit too far. I just want them at similar levels.
I'm not tuning an EQ and they don't need to be exactly 80dB by strict industry standards.
Model of phone shouldn't matter as long as the same phone is used every time.
Running line out to line in is an interesting proposition and would be much more accurate.
I'll keep that in mind.
I was thinking about where to adjust the volume at.
It does make sense to do it in MAME. Not sure what is going on with MAMEPlus that I am testing on, but the volume up and volume down aren't working. The Master Volume "~" resets when I exit the game and restart it. After a little searching, looks like the Master Volume isn't saved anywhere on the official MAME build either. The slider controls are stored in the game's cfg file, but you have multiple sliders per game which sucks.
The worst offenders on my cab run on emulators other than MAME, so I'll adjust those in the service menu first.
I can't get to the service menu of a couple of the Taito Type X games, so I guess my ahk scripts for those games will just keep evolving.

I was extremely picky about the sound quality on this cab.
I'm not compressing or clipping anything!
I got a bit nostalgic after mentioning my old audiocontrol, so I went to their website.
They haven't changed anything on that RTA in the past twenty years except for the color of the carrying case.

I do see they make a mic that plugs right into an iphone/ipod though.
Looks like a sweet setup, but I have a windows phone (don't make fun).