The input channel peak LEDs indicate both pre- and post- fade peak levels on the 302. In early production mixers (before 2005) there are two resistors which make channel 2 and channel 3 not indicate post-fade peak levels. This minor condition is fixed on later units. Note that if the channel fader is below unity gain the pre-fade input will always clip first (and be indicated), and if the fader is above unity, the output (as displayed on the meter) will always clip first.