I've tried the MP-1 both ways- a few years ago some ex-partners of mine were real advocates of the SUT. My experience is that while you can get the overall setup to be quieter, ultimately you find that the phono is not as interesting as before- brighter, less bass impact, less transparent- in effect, more 'digital'. Ick.
So I went back to direct-in. What an improvement! The big deal seems to be making sure you actually have quiet tubes :)
After I got the company back, we introduced the MP-1 MkIII. One of the big improvements is in the phono; vastly improved constant current sources in the phono section cut noise, increased gain and reduced distortion. In effect, there is even less incentive to run a SUT than there was before. I've been using the ZYX Universe and also the Transfiguration Orpheus with no worries.