Thinking back over everything I've waffled here, I think the main thing is headroom. If you come in low, you can always make it loud further down the chain.
Back in the tape days, 0dB VU was what we thought of as "in the red". But actually, that was always calibrated to leave a lot of headroom. And you could thus have some fun driving stuff into the red for the saturation you'd get from it.
I can't remember the general consensus on this, but I think of about -10dB digital as being the same as 0dB VU. It's not a perfect analogy, but it works ok as a rule of thumb.Certainly, a lot of the ProChannel stuff seems to work well around that assumption.