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i like dealing with discrete components myself, due to simplicity/cost, but i wouldn't be opposed to an easy to learn microcontroller either.
that being said, you could run the signal through a diode and drop some voltage. a lot of the more common signal diodes would drop .7 volts, though there may be a suitable diode out there that would drop close to 1 with the current load you would pas through it. that is the only real issue that pops up for me, the voltage drop vs current characteristic.
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