Why does my system sound so shrill and distorted?

Ohnofiasco, have you experimented with cartridge loading. What you describe could be the result of too high a setting. If adjustable, lower it to the next lower setting and listen. If its better, lower it again until you find the best setting.

SRA/VTA could also be responsible.

I haven't tried loading options yet since my grado pre doesn't have any, but my new Musical Fidelity M1 Vinl that should be in the first part of next week will. Im hoping that will solve most my issues and if not I have another cart also on the way, ha.

VTA/VTF have been pretty much my biggest focuses. Ill get dialed in for one particular problem album and get it sounding pretty clean then when I move on to the next, regardless of the thickness, It seems like every change I made went out of the window. Given thats not the situation 100% of the time.

Make sure the arm and cartridge mounting hardware is not loose at all. The loose hardware can give you some resonant distortion that will have you adjusting tracking force and antiskate for hours. I doubt that would be the whole problem but it can contribute. This going to seem like a dumb question but are the records clean ? Also, when you are making your adjustment try not to do it on an album that has 6+ cuts on each side, greatest hits albums and compilations are generally a little more compressed. If those are the types of albums you listen to often disregard that. As far as the vta goes I'm using a reference sonata and I seem to get the best results with the arm just below parallel to the platter so the cartridge is tipped slightly back. I track at best around 1.75g.

Regards, Bill

.... sounding very shrill and in some situations it will have a little distortion in the higher dynamic range with vocals and horns....

I would use a different Tonearm. Carbon is the worst material I ever listened to.
Or, you try to get the best out of it with a Moving Magnet System.
Maybe a Lyra Kleos with its round and soft upper frequencies can help, when you are ready for experiments.

I would love to know what you think of the Musical Fidelity M1, I've been using their kWPhono with great results so I would think that the M1 would be a great product.