Age old discussion I know but MM or MC? Benefits?


Some mighty long discussions on this already here but I need a refresher!
Having decided to upgrage my phono amp to a Dynavector p75 mk3 I am now wondering about my cartridge.
At present I have a Clearaudio Emotion 4 table with a Clearaudio Artist v2 cartridge.
What are main difference between mm and mc that I could expect to actually hear?
And lomc and homc? What is all that about?
Sorry if this has been thrashed to death already but just trying to get a laymans understanding if possible.
128x128uberwaltz
Chakster, you got it all wrong. I never said the MM´s you just mentioned are inferior to MI´s mentioned by Leonard. On the contrary, they are as good some even better. This all comes down to TA´s and decks used, really. Audio life is hardly ever simple but audiophiles are using different equipment to evaluate quality/quantity differences in their carts, TA´s, preamps etc. The quality of one´s preamp and deck in particular is essential, not to mention a TA he´s using for a certain cart in question.
You are both right, in fact. Leonard´s experience tells an other side of the truth we are seeking for here.

And yes, the GLANZ MFG 610LX is a superb performer, in my system.
@harold-not-the-barrel but my post was addressed not to your statement, but to @schubert 's "MM all the way" 

P.S. I'm still not sure the MFG 610LX is equal to earlier MF61 which i have never seen for sale in many years. 
Answer noted. Don´t worry about the MFG 610LX. I think it was only for the European market thirty years ago but it´s superb nevertheless.
Chackster, I said MI all the way not MM .
And that for classical which was the post before that .
Well, well well indeed.
Hard to say which was the big mover as I made a number of changes at once.
Nottingham Analog Spacedeck cw Shelter 501 mk3 mc cart.
Also built a new rack using 2" maple boards and allthread and moved everything over and took time to tidy up all the wiring.
But...the music, oh the music.
NEVER has vinyl sounded so sweet in my system, so much air and just well soul is best words I can come up with.
Not that I thought so at first as first l.p. on was in through the out door by led zep, must be a poor recording as I thought, umm, soso.

Then I slipped on in the dark by grateful dead....ooh yes please, that hit the spot indeed. Followed with number the brave by wishbone ash and dark side of the moon by Floyd.

Just....heaven. Money very well spent imho.