Would some please explain the sonic differences between HO and LO MC's?
HO = high output
LO = low output
In general, the lower the output, the greater accurate detail and musicality is possible. Of course, as with most things this is theoretical and in practice the engineering and execution quality will make a difference, but generally it is true.
Why should MCs sound better than MMs? Because a coil is moving, instead of a magnet. Coils of sufficient size are lighter (less mass) than suitable magnets, so they can be moved more easily. Just as with the difference between large, heavy cones and thin, light electrostatic or ribbon membranes in speakers, greater accuracy is possible when moving the smaller mass.
The smaller and lighter the coil, the faster and more easily it is moved, so the faster it can and does move and the more fine details are captured. The trade-off, of course, is that to make a smaller, lighter coil, one uses fewer turns of wire, which means less strength in the output. Hence, a coil that is more sensitive and captures more detail --and therefore sounds better-- will (usually) have a lower output.
Is the trade-off worth it? Most people who have used both and can afford the (usually more expensive) MCs, think it is.
Pros: MCs will give you ultimately better sound quality, if the system is suitable set up to get the most from the design.
Cons: Cost. Almost always, MCs cost more, and the extra step-up transformer stage costs more. Cables don't have to cost more, but have to be carefully chosen.
I only have one MC cart, the AT-33ML/OCC. It's a fairly rare AT that sells in Japan for even more than the Prestige one does. I haven't heard it through gear that can really do it justice yet, but the little testing I did (Denon step-up into Sansui AU-9500 and Marantz 3650 (MC input) through headphones out) makes me think it is a league above the MMs I have. Just wonderful sound (clarity, soundstage, full-range sound, dynamics - you name it, it's better). Then again, my best MMs are only Shure V15 III and IV, not the best MMs out there. I am looking forward to bringing home the Musical Fidelity MVX-2 preamp, whose built-in MC phono stage should be up to the job of fully extracting the best sound the AT can offer.. On the GT-2000 TT, through that preamp, I'm expecting the best phono sound I've ever enjoyed. I'll come back and post it when I've tried it and given it a good listen, in several weeks.