I'd just like to offer some clarifications with respect to the references that have been made to "fake xlr equipment." Three different situations need to be distinguished:
1)The phono stage provides an xlr input, and has a fully balanced internal signal path.
2)The phono stage provides an xlr input, which is routed into a circuit stage that has a balanced input and an unbalanced output, the rest of the signal path in the unit being unbalanced. That retains the noise rejection benefits of the fully balanced approach, and in so doing takes advantage of the fact that the cartridge is a balanced source. "Noise" in this context refers mainly to noise that is picked up in the cabling between the cartridge and the phono stage input, which may include ultrasonic and rf noise that may not be audible in itself but may have audible consequences. This approach obviously does not provide the potential benefits of a fully balanced internal signal path, but is likely to be less expensive for comparable quality.
3)The phono stage does not have a balanced input stage, and utilizes only one of the two signals in the balanced signal pair, with the other one being connected to ground. That would merit the word "fake" that has been used, as there would be nothing balanced about the balanced input. FWIW, I am not specifically aware of any such phono stages, but it wouldn't surprise me if some existed.
The tradeoff between the first two approaches should, IMO, revolve primarily around the quality of the particular designs, as well as cost, and not primarily on theoretical considerations of balanced vs. unbalanced. Whether or not the rest of the components in the system have balanced internal signal paths is also a relevant factor.
Regards,
-- Al