Wondering about capacitance settings for phono cartridge

My phono cartridge data sheet recommends a capacitance setting of 150 to 300pF. I am wondering if this recommendation is intended to take into account the capacitance of interconnect cables as well. I have my phono stage set to 140pF  and wanted to see what others opinion would be. Also, what exactly is the effect on the sound at different settings.....does capacitance setting just affect high frequency or a broader bandwidth? signed: uneasy