From the manual: "AUX-2/PHONO INPUT: Accepts line-level input from an analog audio (RCA style) source. Also, accepts analog audio output from a phonograph/turntable with a Moving Magnet (MM) cartridge. Please note that when using a phonograph/turntable with a Moving Coil (MC) cartridge, this input should be set to AUX-2 and an external phono preamp designed specifically for Moving Coil cartridges used." You’re supposed to switch the Aux 2/Phono button to Phono(should have a green LED lit), to engage the built-in phono stage, if using a MM cart. Preamp Out connects to your ST-70. Do you get anything by connecting your speakers to the Peachtree’s speaker outputs, playing the TT?