Would T feedback network of transimpedance cause serious distortion?
Billyzhao, you cannot simply replace a capacitive bypassed T-network with a corresponding resistor (also bypassed) - and expect the same behaviour. This can be shown on a simple intuitive way: In the first circuit the left side of C1 works upon the input network in parallel to app. (40+1)=41 kohms. In the second circuit you have 860k in parallel.

Both circuits are equivalent only without the bypass capacitor.