Input impedance for that circuit is only about 25k. With 470k in series with the input, gain is about -7.5dB!
Even fed from a low impedance source, max gain is about 18dB.
If you simulate it with the cartridge equivalent circuit of a voltage source with about 600pF in series, (suggested here:
http://www.keith-snook.info/wireless...ualisation.pdf ) the gain to the output is about -28dB at 50Hz rising by 20dB per decade to 14dB or so, but this isn't reached until about 20kHz!
All I can say, really, is if it works, fine, but theoretically it's not a lot of use as a ceramic cartridge preamp.
If you darlington the BC547 with another one, change the bias resistors to 10M and 3.3M and get rid of the 330p capacitor you end up with something with an ultimate gain of about 18dB, but it's still 3dB down at about 300Hz and down to no gain by 40Hz, so still not wonderful.
A simple opamp circuit will work
much better.