I have been extremely satisfied with the performance of the ARC Ref 2SE phonostage. It has adequate gain (74 dB) with balanced output. The balanced output provides an additional gain of ~ 6 dB (for single ended output the gain is 68 dB). That additional gain is extremely important if you're using low output MC's (~0.4 mV or lower) in keeping the noise floor down. Based on my experience with other single ended phonostages (Rogers PA1A, Fosgate Signature), and despite a strong Manley following, I'll always prefer balanced (true) over singled ended phonostages. The ARC Ref 3 as indicated above can be had for $15k or less.
