I use the Puffin with my Rega Planar 8 turntable and APHETA 3 MC cartridge. I don't feel that the Puffin is holding back the sound of the turntable at all, although I would like to try inserting a SUT better the P8 and Puffin.
I've not tried using the analog outputs on the Puffin. Mine has the optical digital output, which I run into an external DAC (Gustard X18). Super happy with the sound and features. But I may upgrade to the Waxwing at some point for the convenience.