Gold said:
The problem I see with doing that is that any noise picked up could be affected by the RIAA EQ. I know the point of a balanced line is to eliminate this but I'd rather not take the chance.
I think you are confusing two different issues. One is the interference/ground potential difference on the long connection, which is taken care of by balancing the line.
The other is the parasitic voltage induced in the low-level connection between the cartridge and the 1st active stage. You could make this connection fully balanced (as a standard only one channel floating, the other has its cold point connected to the shell), that would work, but you would still have two major limitations.
First, the HF response, which puts a direct limit on the cable capacitance.
Second, the benefits of balanced connections are directly related to the ratio of the common-mode impedance to the differential impedance AND the ratio of the common-mode impedance from perturbation source to conductors and differential impedance. The latter is inherent to the construction of the shell, tone-arm and turntable, so most of the times, you have no control of it. Being mainly constituted by the capacitance of the short length of unshielded wire from the cart to the connector, it is a very high impedance, but it is not very well controlled so may be seriously unbalanced; twisting the conductors insures best rejection.The differential impedance is intrinsic to the cartridge and again, apart from a rare exceptions, it rarely diverges from the 500mH + 1.5k model, which at low frequencies (< 500Hz) reduces at 1.5k, but reaches the "characteristic" 47k mark at 15 kHz.
To resume, you have to make the common-mode impedance quite high to take the benefits. Getting 60dB CMRR would suggest making the common-mode impedance > 1.5 Meg.
BUT. In fact, getting good CMRR is all a matter of making the bridge balanced, not a matter of absolute values, so you could get excellent CMRR with relatively low CM impedance and with some trimmer adjustment. Something like the InGenius priciple may be tempting, but dealing with millivolts and kilohms impedance is different and more challenging than line levels at 600 ohms.
Now, considering the whole SYSTEM, it just doesn't make sense. The solution advocated by JR makes sense. Install the preamp close to the cartridge, then YOU, not the cable, decide the cartridge loading and run hot signals to your listening position.