Thanks for your reply.
I am using a Modwright phono stage, I set the switches on it to 100 ohms first with the Denon S1, and it sounds good but a bit on the thin side with much less bass than when I set the switches to 47K ohms. At that setting the system sounds louder and the bass is deep, and the highs sounds good also. I did this test with the volume at the same setting. I will do some more experiment with the phono stage set to different load setting to hear the result.
I am using a Modwright phono stage, I set the switches on it to 100 ohms first with the Denon S1, and it sounds good but a bit on the thin side with much less bass than when I set the switches to 47K ohms. At that setting the system sounds louder and the bass is deep, and the highs sounds good also. I did this test with the volume at the same setting. I will do some more experiment with the phono stage set to different load setting to hear the result.