Cartridge Loading- Low output M/C

^^ Sounds like it to me :)

@2channel8 well if you have been running at 475 ohms then I can only assume you have a low cap cable. If you had a high cap cable I have a feeling you would hear the difference.
You should find out though, email the cable mfg and ask them. Let us know what 100K ohms does for you.....I have never tried that high of a setting on my Nova II

Well, IC designers would generally consider an amplifier circuit that has a section with a 35dB resonance to be pathological- that is, basically a problem waiting to happen- unless, of course, the goal really is to produce an oscillator, or at least a marginally stable system. All it takes is a small amount of unwanted feedback due to parasitics - resistance in the ground, inductive coupling or capacitive- anything could do it- from a point where there’s enough gain and phase shift back to the resonance and all sorts of nasty things can happen. So, even though we can model all of these effects to a degree that the non-practitioner would consider to be near magical (yes, we can do EM simulations for complete circuits that are much more complex than an opamp, and capacitive/parasitic resistance runs are entirely routine) we generally choose, just for good practice, to eliminate any such effects as a matter of priority. Just try getting something like that through a design review.
Seemingly, the practice in audio design is somewhat different.

In this thread phono cable capacitance has been mentioned as a factor to consider when determining the the MC cartridge loading. 
This is from the Morrow Audio website:

"Magnetic cartridges are the only cartridges that might be affected by cable capacitance. With moving coil cartridges, cable capacitance is not a concern."

Is the above a true statement?

I am using their PH4 phono cable, the capacitance is 392pf per meter. 
Turntable is a SL-1200G > Hana SL > PS Audio GCPH with Underwood Mods.     

"Magnetic cartridges are the only cartridges that might be affected by cable capacitance. With moving coil cartridges, cable capacitance is not a concern."

Is the above a true statement?

No. It is advantageous to keep the resonant frequency as high as possible.