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 μm2, 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, and the reproduction head is a magnetoresistive magnetic head comprising a spin-valve layer.