_IF_ your source truly floats, NO reference to common, then yes, that works dandy.
Truly floating sources are e-z in SPICE but rare(*) in Real Electronics. In your plan, the source is probably a tube, or a (single-ended) tone/volume network. A transformer is a fair approximation of a floating source, but good windings cost money, and windings which push imperfections and unbalances outside the audio range are hard to impossible.
(*) Oh, one now-common source of Balanced (not Floating) signals is the push-pull output of a DAC. But that's perhaps too obvious.
Truly floating sources are e-z in SPICE but rare(*) in Real Electronics. In your plan, the source is probably a tube, or a (single-ended) tone/volume network. A transformer is a fair approximation of a floating source, but good windings cost money, and windings which push imperfections and unbalances outside the audio range are hard to impossible.
(*) Oh, one now-common source of Balanced (not Floating) signals is the push-pull output of a DAC. But that's perhaps too obvious.
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