There is a long thread with digressions on this topic at
http://forum.audiogon.com/cgi-bin/fr.pl?eanlg&1172373006&read&keyw&balanced&&st50
Gain is not lost in single-ended vs. balanced wiring of cartridge, as the voltage output of the cartridge is what it is in either scenario. Some state that dividing this voltage across the two phases of a balanced amp may reduce s/n ratio. Others believe this is off-set by the advantage of common mode noise rejection in a differential circuit. Others state that the reduced capacitance that the amp sees from the source in a balanced hook-up may be advantageous.
http://forum.audiogon.com/cgi-bin/fr.pl?eanlg&1172373006&read&keyw&balanced&&st50
Gain is not lost in single-ended vs. balanced wiring of cartridge, as the voltage output of the cartridge is what it is in either scenario. Some state that dividing this voltage across the two phases of a balanced amp may reduce s/n ratio. Others believe this is off-set by the advantage of common mode noise rejection in a differential circuit. Others state that the reduced capacitance that the amp sees from the source in a balanced hook-up may be advantageous.