There are solutions to the volume drop, if you dare attempt to do a modification!
however i am somewhat regretful of modding mine (which is clipping the C11 capacitor), because i think it has compromised the tone of my guitar sound. This pedal is NOT true bypass which also doesn't help, when the effect is not engaged i get a noticable yet slight clipping and slightly distortion sound on a sustained note played on one guitar string... after isolating the problem to this particular unit (checking cables and batteries and using different amps... btw i use about 5 or 6 pedals in my chain) initially i thought it was a drained battery and replaced it, still i get this wierd "decay" which i didn't notice prior to the mod, but it may have existed and i just had a blue box with a faulty component (cap or resitor) since i did purchase it used on eBay about 4 years ago. anyways the blue box is well noted to have a lower output volume, which it inherently has. though i am not sure if this is true with the original "Block" logo versions or not (btw, i think MXR/Dunlop is confusing with their script vs. block logo / reissue vs. original lines) here is the link for the modification (written by a member of the noise band Hive Mind and runs the Chondritic Sound label and sells homemade noise effects units under the name Sirkut Electronics):
http://www.noisefx.com/article/mxr_blue_box_mod
so i replaced the C11 cap on the board and i still get the "decay" on the sustained notes on guitar when the effect is not engaged, which to me is not desirable especially when playing clean guitar, so i've taken this pedal outta my guitar effects chain, but i sure do love it enough use it in as a noise generator device in conjuction w/ a contact mic or my Buddha Machine Soundbox, tonite though i'm gonna redo the mod replacing the C11 (.01 uF cap) with a .0047 uF cap (the Radio Shlock near me didn't have a .0022 uF) this will help keep the volume up, and i've already started to add the SPDT switch by drilling a hole and inserting the switch where i can toggel to and from the original "filtered" blue box effect (w/o volume drop w/ the new cap) and the new "unfiltered" effect (which bypasses the C11 cap connection).
there are also places on the net that help w/ making the pedal true bypass (which is abit more complicated and tough since the blue box has a tightly compact circuit board)
i also read at an online message board about connecting the C12 w/ the R12 to obtain more gain, but i don't trust this since at the same time however mentioned this removed the R23 resistor and that converted the pedal from an octave fuzz to a straight up loud bigmuff.