The answer to this question is a resounding "YES!" The catch to this answer is that doing so is not cheap.
I am not going to address which phono preamp will best reduce clicks, pops, and surface noise. They don't, nor are they designed to do so. To accomplish that end, two different components are necessary. The first is a machine which can actually clean the record; a lot of that surface noise comes from debris on the record that can be removed. Record cleaning machines capable of accomplishing that typically use ultrasonic energy and cost from $3,000 upwards (although there is one -- HumminGuru -- that is available for around $500). I recommend the DeGritter Mark II, which really works.
However, a record cleaning machine cannot repair physical damage to the record. Those clicks, pops, etc. will still be annoyingly present. The good news is that a couple of serially-successful Silicon Valley entrepreneurs started a company, SweetVinyl (
www.sweetvinyl.com), to develop a technology to remove them all. Essentially, it digitizes the music, identifies and removes obvious-to-subtle anomalies, and then converts the resultant data stream back to analog. Their technology has been deployed in a line of SugarCube products ranging in price from $2,000 to $4,000.
SugarCubes work astonishingly well. Many of my wife's records from the 1970s and 1980s were in horrific shape and so unlistenable as to be worthless. Using the SC-2 Plus model I have, they sound pristine. In my system, this SC-2 is positioned between my phono preamp and my preamp. When I am playing a record that is in great shape, I simply bypass the SC-2's digital processing circuitry.
I recognize that what I have described is an expenditure of $6,000 to $7,000. This amount of money makes no financial sense unless one either has money to burn (I don't) or has a very large collection of records, of which a goodly number are in poor physical shape (I do). For me, the SC-2 has been a godsend.
For the record (no pun intended), I have no economic interest in SweetVinyl (or DeGritter) nor am I a "shill" for either company. Rather, I am an audiophile and music lover and have written this posting to apprise others of what I did to enable vinyl playback of records filled with click, pops, and surface noise to sound at least as good as does their CD versions played through a good CD player (which I also have).