What level of hum is considered acceptable? At low to medium volume level it's not a problem. However when I crank the volume to say a 1:00 to 2:00 o’clock the hum is very notable. Is this just the nature of a phone section or can the hum be reduced past it current level?
What kind of cartridge are you using. Grados are unshielded, and you can get hum.
Otherwise, 1-2 o'clock seems to be a pretty high gain level. I have a T-7 as well, with a FV350EXR and VMPS RM30s, and I rarely get above 10:00 and never above 12:00.
Be that as it may, I'm not keen on humm. If it only comes through your phono, and if you are not using a Grado, then you're picking up something from somewhere else. Could well be a ground loop hum from the TT or phono stage. By way of experiment, you might try unplugging the TT and see if the hum still continues.