"The Olympus LS-10 needs a very loud signal going line in..."
This remark reminds me that we have not mentioned the external pre-amp's
ability to boost the signal. Some of the less expensive preamps don't boost
the signal very much.
For example, the Chris Church ST-20B preamp has a max boost of 30 dB, and the
Sound Professionals SP-Preamp has a max 42 dB boost, according to their web pages.
Compare with the 66dB boost of the MixPre and the Aerco MP2's 70dB boost.
When recording loud music, a preamp with lower boost is fine. When recording
a quiet subject, it's useful to have extra preamp boost available, especially when
the preamp is not adding a lot of extra noise to the recording.
The output signal from the mics varies a lot between brands. A mic with a relatively
low output (say, the Rode NT1a) will need more help from the preamp to make a recording
with good level. A mic with a hot output (the Sennheiser ME series comes to mind)
won't need to be boosted by the preamp as much.
Flintstone