Oh dear ... another one.
Are people going to EVER realize that throwing out the in close proximity to tonearm output wires mounted phono preamp and replacing it with adiitional LONG output cable of dubious quality and WHATEVER outboard phono preamp in case of MM cartridges - and Audio Technica MMs in particular - is definitely a - DOWNGRADE ?
MM carts do not like high capacitance in their load - period. The capacitance of internal wires in tonearms is approx 50 pF. The capacitance of external cable of the usual length ( 1 to 1.5 metres ) can be anything from addiional 70 pF ( best possible case, RARELY achievable with presently available cables ) to over 400 pF with some "audiophile grade" cabling. BOTH additional ( and unnecessary) values would kill any AT MM cart - but that 400+ pF would kill ANY MM cart.
That additional cable capacitance when used with a MM cartridge produces FAR worse result than ANY decent phono preamp - even the most inexpensive one. Have a look at phono cartridge loading
http://www.hagtech.com/loading.html No phono preamp can restore the mess that additional capacitance introduces in the frequency response - even assuming it has zero input capacitance ( which in rality does not exist; lowest values are around 10 pF, achieved in some TOTL vintage gear and MAYBE modifiable in some current gear ).
The standard course to make - say - AT440MLwhatever palatable is usually bringing the capacitance around or below 100 pF ( VERY hard to do with any external cable) and using phono preamp input resistance lower than the standard 47kohms - around 33 kohms.
AT LP120 - with its internal preamp - achieves even lower capacitance ( only internal tonearm wiring, approx 50 pF ) and most probably uses 33 kohms input resistance - giving AT MM carts MUCH BETTER CONDITIONS to work than with any outboard preamp.