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TPS61040 - for phantom power +48v and variable voltage

Other Parts Discussed in Thread: TPS61040, TPS61170

Hello, I am working on a USB powered audio device that needs phantom power (48v @ 4mA total).

1. Phantom Power

I'm using an the phantom example in the TPS61170 datasheet adapted for use with the a TPS61040.  It's working very nicely at 48v, but I would welcome any criticism, watch-outs, or suggestions for the following design:

Variable Voltage

In order to offer a low-power mode, I'd like to be able to switch to a lower voltage Phantom spec, and I was wondering if anybody's had any experience with this.  Would it be safe to switch in a resistor in parallel with R2 using a FET or a 4066-type switch?  

I would appreciate any advice on this matter.  Thank you!