I was once advised that loading a cart at about 9 times the cart's output impedance is a good starting point... so for the M2 with 24 ohm output impedance, that makes the loading just a hair under 220 ohms.
I own a Benz Ace Medium with the same .8mV output and 24 ohm output impedance, and I'm presently loading it at 220 ohms. I have also used 380 ohms (using some home made loading plugs).
You might try a little lower than 475 ohms and see what you think.