It sounds quite good but it is a little difficult with it's two boxes and tangle of cables. If you can get past the awkwardness of the design you will be pleased with the sound.
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Lancelot Pro using the battery has a very low noise floor, very black background, and silky presentation. Also lots of detail floats out. Probably the only downside is lacking of dynamics initially, but after the battery had fully charged for 24 hours, the dynamics came back.
I compared direct MC input, and using step-up into MM input, the MC sounded excellent. Make sure MC has at least 0.5mV output.