Maybe it's all that extra gain. You could put the PICCOLO after your phonostage (just to listen to noise) and the hiss will also increase. Most of the hiss is from the input resistance, usually defined by the cart. With no cart plugged in, the 47k loading has much more hiss than the other settings. Internally, the relatively high value of the 4.75k drain resistors presents some noise (about 1.3uV).
Hmmm, I didn't notice it was worse with batteries. I will have to run some tests.
jh