I really have to laugh at all the out of hand dismissals of the Mod Squad as a phono stage.
First of all I doubt that most people have ever heard it as it was not a product with large distribution, so I am not sure how qualified most people are to speak on it's merits and likewise weaknesses.
Second, if we take it that most people are basing their opinion (and my sincerest apologies to anyone who has had significant experience with the unit and has made comments) on something other than actual first hand experience, I wonder where these opinions are coming from. It certainly isn't that people are basing them on the published reviews. The only review that I have found pitted the Mod Squad against the cult classic John Curl Vendetta. This was in Stereophile in January 1989 and was written by John Atkinson. In the review he clearly states (and the review in on Sterephile's website) "The main audible difference between the two phono preamplifiers was caused by noise". He admits that the Mod Squad is very slightly noisier with very low output MC cartridges than the Vendetta but that the noise is only obtrusive when music is not playing in a silent room. He then goes on to catalogue the various strengths of each stage and for every area that the Vendetta wins the Mod Squad wins another. There is clearly nothing in this review to suggest the Mod Squad is a second class citizen.
I wonder if it is just that the phono stage is old. If it were a CD player I would concur whole heartedly that it can't keep up with current players but in phono stages (and really in amplification in general) this can't really be said. Many of the "great" phono stages of that era like the Vendetta and certain Counterpoint models have gained a cult status and are closely guarded by there owners. If we accept that the Mod Quad might just be a member of this class, then one must also dismiss those legendary stages as subpar as well. Just because something is old doesn't mean it is less good. Think of the Japanese FM tuners of the 1960's and 1970's. You are hard pressed to match the classic Sansui's and Kenwood's with the best of todays tuners (and certainly can't come close to a value comparison). The phono gear from the late eighties was many companies swan song in terms phono gear (or at least that is what they thought at the time). They thought that the LP was dead so they threw all the resources they had (best parts, full balance of accumulated knowledge, etc) at making the "last great" phono gear. I wouldn't be so quick to dismiss the phono products from this era.