Lowered the arm height as suggested. Tonearm is now parallel to record surface but headshell droops a bit down at the stylus tip end. I guess this is how it is built so I left it at that.
Net result of levelled arm + M97xE cartridge combo (less than 10 record sides old) compared to old cartridge (M44-7, which was as set up as properly as I know, on same arm):
1. Details: this is the first thing that strikes you during the changeover. The M97xE brings out a lot more detail. I mean, a lot more.
2. Imaging is far superior on the M97xE. It is more specific in its placement of instruments/voices, though an even more specific placement would be welcome
3. Soundstage depth has moved a bit forward compared to the M44-7. Width has gone up only by a bit.
4. Bass - the M44-7 has a reputation for deep thumping bass and I was apprehensive if I would get some wimpy bass with the M97xE. Boy, was I wrong! The bass quality is better, though not necessarily more.
5. Tonality: is definitely improved. I think this equates to saying it has better mids.
6. Highs: highs are more extended and I heard airy highs I had never heard from my analog source.
A good, cost effective upgrade. This cartridge has been lying with me for a very long time, not even unboxed. I had been missing a very good thing for a very long time. Highly recommended for folks using M44-7 or M55. I can make out lyrics better, and this for me eventually leads to more involvement with the music.
Next up: will transplant the stylus of the M97xE to the cartridge body of the Shure V15 Type III after the stylus has gained about 30-40 hours of playtime. The styli of these two models are interchangeable, though stylus shapes are different and cartridge bodies are internally different. It's not a way of getting a V15 on the cheap.
A detailed user review of the M97xE
here with comments about how it compares to the V15.