Your EMT has quite a following, similar to the Garrards and Thorens 124's, so if it is in that league I would suggest doing everything possible to maximize its performance.
I have no idea of the quality of the internal phono stage on that table; it might be worth investigating as to whether or not it would be adviseable to bypass that altogether in favor of a modern phono stage should big improvements in sound quality be available to you that way.
Based on my experience with balanced phono, though, and in light of the fact that all phono cartridges are true balanced sources, I would strongly advise you to pursue the balanced wiring, connection, phono stage or preamp/poweramp route, particularly if you're leaning toward the use of a low output MC cartridge.