My take on a TT without isolation is like a room without treatment!

That was my nod to Lonley Raven. But kidding aside, why TT isolation is so important is pretty easy to understand once we understand that the whole function of a TT system is to transpose ultra fine vibration into sound. Natually, any outside interference would distort the reproduced sound. I believe that on the other end, speaker isolation is equally important. (I'm repeating this for those who still haven't gone the isolation route.)
If there is any impact on sound from tapping on anything other than the TT itself, you can be sure you're not getting accurate sound repoduction at a fundamental level. It would be nice to hear playback from a TT suspended in a vacuum!