Coming late into this but it just reinforces in my mind the superiority (ymmv yada yada) of my preferred approach of using multi-tap step-up transformers that allow for flexibility in cartridge gain - indeed I would argue that something along these lines is essential if you have a even a modest cartridge collection intended to optimise replay of different stereo and mono LPs of different eras or even genres. (Not important to some of course but utterly essential to others).
I think I mentioned in my review of Miyajima step-ups the joys of running in the same evening from a 2 ohm 0.18 Ikeda cartridge to a 100 ohm 1.5mV Ortofon CG25 (values at the cartridge coil) - this is all about being able to find a satisfactory match between cartridge and phono stage that optimises the capability of both.
Interestingly the EAR 912 I use as a phono preamp not only has four internal SUT settings (labelled 3, 6, 12 and 40 ohms but more accurately representing different step-up ratios - SUTs are generally far more forgiving in terms of precise matching of measured values than head amps), but also an interstage transformer between phono stage and preamp, with signal visually represented by VU meters, so that overall gain can be visually matched to keep things at appropriate levels - avoiding either overload or hiss from insufficient gain (though it's famously very quiet anyway for a valve unit).
It may be my imagination (which, essentially, is the medium we all listen through anyway - imagination is at the heart of, for example, the auditory feat of hearing a 3D soundstage) but I do generally feel the sound quality is at its best when the VU meters are also telling me the gain structure is optimal.