@viridian Interesting; I found the original ad for my unit:
"This ASL Phono Lux DT has the Altec 4722 matched units, and Riken ohm resistors. Also features a big Jensen 4 pole electrolytic cap. This mod is a $400 upgrade. The unit is stock otherwise. Great condition and sounds great. This unit was hot rodded by Chris Kipp of Audio Gallery of Sacramento. This is a superb sounding unit, warm, quick, and bigger soundstage than the stock unit.
This is set up for low output MC, not sure of the gain."
Technically, is this why the MM's are muffled?