No it won't. Now that you mention that, I just set up a tt. With the gain on the phono set at low, the gain for the mpx3/power amp is high, but not too bad. The problem is when I use either the mpx3 headphone out or he 007t/O2, the gain is way too low, especially with the 007t/O2. If I move the phono to med gain, the gain will be too high with my speaker amp and perfect with the headphone amp. This might be a problem.
Gratuitous tt pic: