From the responses so far, it sounds like I should be okay with this board based on the fact that 1) most MC cartridges should be fine with the 100 Ohm setting so there are lots of options, and 2) I can simply make sure I don’t get a cartridge that isn’t okay with this setting, by ensuring the cartridge has a less than 0.4mv output.
Yes you will be okay. But no, its nothing to do with output. Different MC cartridges sound better with different loading, but it has nothing to do with their output level. Where you care about output is if the cart is very low output, making sure you have enough gain.
The reason you don't care about the loading is its so easy to get whatever you want. Buy resistor. Swap resistor. Listen. Repeat. A little extra hassle, well worth it for the savings I would think.