Yes, use the software volume in the meanwhile.
If you want to test the difference between software and hardware volume you could do the following:
1) set software volume to 100
2) change the mixer type to "disabled"
3) go to CLI and type "alsamixer", press F6 and select your soundcard (ODAC)
4) control the hardware volume from there
The 0.3-beta is going to be released in days.
Concerning the audio quality, all the system optimizations and the kernel profiles were accurately made by Orion during our collaboration with the RaspyFi project, and Volumio uses that work. We continue to improve it, adapting the settings hand in hand with the system updates and the new kernel versions. So, if you care about sound quality, then RuneAudio could be your right choice