Take the case of N163 of 1-channel,
it is a volume well-balanced in FamiTracker,
but after Export to NSF,
the volume of the N163 has become a roar when you play in NSFPlay.
The fewer N163 channels you enable, the louder it becomes. This is actual behaviour observed on a real N163 chip.
Volume values 0 to 3 yield decent results on hardware. As an alternative, you could also enable more channels and leave them unused; this will introduce aliasing but will result in a comparatively quieter N163.