This is something I've been seeing for a while, so perhaps someone can clear it up for me.
I have a project with only one audio track, normalized to -0.2dB.  The audio track has NO effects on it, and neither does the master.  Plain pass-through to the meter.  When I play back the track, the meter peaks at +2.0.  Why?  Shouldn't the meter be peaking at -0.2?
Well, after looking into it a bit, here's a bit of interesting information:  If I change the project "resample and stretch quality" to "Best", it peaks at +2.0.  On "Good", it peaks at +1.6, and on "Preview" it peaks at -0.2 (as I'd expect).
Why would this setting change the gain of the output?  Any insight?
-Brent