
I've installed the transverter board by plugging the units together (I note this because I wondered if there were any jumpers that need to be set/unset).
I've cabled RX out from the 115 to the RXIF on the transverter, and (for clarity) TX to TXIF. I've cabled TXFILT to TXFILT-ANT and RXFILT to RXFILT-ANT. Antenna to RXANT and a dummy load on the TXANT.
I've grabbed the latest FPGA (v0.0.5) and updated/upgraded firmware, etc., such that my version information now shows:
bladeRF-cli version: 0.10.3-git
libbladeRF version: 0.12.1-git
Firmware version: 1.6.1-git-b7e6642
FPGA version: 0.0.5
Next, I updated SDR Console to version 2.2 build 1735, and set the "Select Radio" function to cover 1-2800 MHz with a 20 MHz sample rate. Converter pull-down is blank (option: Manager) but this is where I was before, so I decided not to screw with it...

"Start"
Loads up and I see spectrum, but the signal levels are very low - I'm lucky to see a signal above -110, and that's a center-frequency spike (see picture). For fun, I try the FM broadcast band, figuring SOMETHING has to be there. Not so much.
I've surfed around the dial, hoping to see something that gives me a glimmer of hope, but my dreams have been shattered. Please note that prior to the install of the XB200 I was able to see/hear signals above 300 MHz.
So, the question is: What have I done wrong?
PS: The signal levels observed on-screen are the same whether the antenna is connected or not.