BAT VK P5 VS P10

Jfrech is exactly right in everything he says. I have a P10SE with Superpak. It sounds better without using the transformers. The XLR input will provide the extra gain as mentioned and will have a lower noise floor also.
FYI - I recently sent my unit in to get the auto DC balance mod rather than adjusting the DC balance manually which I had been doing since I purchased the unit. Several months ago, Victor changed to an AC balance circuit which he feels works better than the DC balance circuit. That is the latest mod for the P10SE.

Audiogalore - With my P10SE, I use high gain and direct(without transformers) for a variety of MC cartridges. I don't hear any degradation from low to high gain but I do with the transformers.