Lewm,
I have owned many preamps with mono switches and of course many cartridges, both mono and stereo over the years. In my experience a mono cartridge always sounds better. With that said, a mono switch used with a high grade stereo cartridge should beat a cheap mono cartridge. But it doesn't. I first discovered this years ago comparing Shure M44 mono vs. Shure V15 Type II (McIntosh C28 at that time). I have a not overly expensive AT33 Mono today that outperforms all of my best stereo cartridges including a favorite Experion on mono records. This still astounds me. But invariably mono cartridges are quieter and have greater presence. And higher end mono cartridges are just flat awesome.