Hey guys.
I would all advise you to set it to "Normal quality" indeed.
High Quality is not working properly for some people, i don't know if this is truly working fine for the ones like you who seem to hear nothing wrong (probably, but can't say it without any doubt).
So you all know :
Normal Quality : up to 32 simultaneous sounds can be played.
High Quality : up to 48 simultaneous sounds can be played.
Now think about 48 different sounds played at the same time, can you all hear or identify them ?
If you play mods like Battle or Siege for example, you will mostly hear a bit more explosions and gunshots, so it would be even more of a mess... Normal quality was set to be the optimal quality, where the closest / more important sounds only are played. So the result in the end is a clearer sound, and also less exhausting / tiring for your hears.
In Elite you would see no difference between normal and high quality i guess, there are not as much sounds played in the same time as in most FFA mods.
Another good thing to know, if you don't already know about it, is regarding the volume slider : if you put it at 7.5/10 or 7/10 on the volume "white dots" scale, you will have a quieter and more precise sound mix to play elite.
Let me explain :
-> Full range is the casual mix, with lots of explosion, rocket trails, louder player footsteps (only yours) etc etc
-> The more you go from 10/10 to 7.5 the more you turn down rocket trails and explosions volume, you also remove a bit of your foosteps, and the volume rolloff gets more precise for a better localisation.
-> Under 7.5 you have reached the quiet mix, you can only turn down the main volume. The quiet mix was made for two reasons : "pros" that want a clearer version of the game to hear better their opponnents, and secondly, for every player playing loud FFA mods that want to play, maybe for a long time, but in a calmer in-game sound environnement

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Hope those tips and explanations help, if you had never heard of the volume slider thing before, please tell your friends ! I will make a general post for everyone to read it later on.