Okay, that makes more sense to me. It also explains the way you set your gain structure with the amp. The Multicomp's gain knob is pretty much all boost - its got unity gain when turned almost all the way counter clockwise. So, like you said, you are already hitting the input of your GK's preamp pretty hard, which would account for why you have to keep the preamp gain low. But you said all that.
As far as hiss goes, I suspect the MB2-500 is a bit noisier than most other GK heads. That shouldn't scare anybody off, though. The hiss level is pretty much always low in relation to the volume the amp is pumping out. That little amp is loud. Frankly, I'm not sure what these guys are thinking when they're getting excited about other manufacturers releasing 800 and 900 watt versions of their 500 watt heads. That's cool and all, but, that's a lot of power.
The multicomp in tubeism mode is pretty sweet. I bet hitting a GK head with that could be pretty cool as well . I'll have to try that - I own both; I just haven't got there yet. Thanks for the tip!