The magnetic signal reproduction system comprises a magnetic recording medium comprising a magnetic layer comprising a ferromagnetic powder and a binder on a nonmagnetic support and a reproduction head, wherein a number of protrusions equal to or greater than 10 nm in height on the magnetic layer surface, as measured by an atomic force microscope, ranges from 50 to 2500/10,000 µm 2 , a quantity of lubricant on the magnetic layer surface, denoted as a surface lubricant index, ranges from 0.5 to 5.0, a surface abrasive occupancy of the magnetic layer ranges from 2 to 20 percent, the reproduction head is a magnetoresistive magnetic head comprising a spin-valve layer, the spin-valve layer comprises a magnetization free layer, a magnetization pinned layer and an antiferromagnetic layer, and the antiferromagnetic layer is comprised of alloy comprising iridium and manganese, and the reproduction head comes in sliding contact with the magnetic recording medium during signal reproduction.