A preamplifier circuit for a disk drive system is disclosed. The preamplifier circuit has first and second inputs that sense the voltage on either side of a magnetoresistive (MR) head element, which presents a varying resistance according to the localized magnetic field at a nearby disk surface. The preamplifier circuit includes a programmable input impedance circuit, which presents an impedance in parallel to feedback impedance at each of the first and second inputs. The parallel impedance presented by the programmable input impedance circuit is controlled by controlling a current source in the programmable input impedance circuit; a higher current results in a lower input impedance.