I had an ARC PH3SE, and replaced it with a Herron VTPH-1mm (moving magnet only, providing 42-44 dB gain. Plenty enough for your Shure). Muchas better. You might have to wait a while for a used one to show up, but it’s worth the wait. The VTPH-1 was replaced by the improved VTPH-2, but the improvement was mostly in the mc gain stage. It also sells for about twice the price of the VTPH-1.
Another phono stage its’ owner like is the one by K & K Audio. It was made in numerous versions, all a little different. Again, it will take patience to find a used one.
I too used the PH3SE with an LS-2, and you may consider replacing the LS-2 with a pure tube line stage, which Keith Herron also made. Again, a worthwhile improvement (imo).