Best bang for the buck turntable?

Ok I have been listening to cd's for a loooong time, its time to move up a notch and find a good turntable to go along my setup, have to admit that it will be expensive to upgrade all of my music collection from cd's to lp's but I've heard LP's and they sound way way better than cd's. I am still keeping my $3k cd player but now I want to add a nice turntable to my system. That will make my system complete. So here it goes, what turntable will be a good choice for a newbie or better yet the BEST bang for the buck turntable?

Music Hall? or other brand and if so, what are the going prices for a good new or used one?
Kinda like the one about the (insert ethnic persuasion of choice) folk musician. He was in it for the money.
Buy a P3 and never look back. There are upgrades available to improve the performance if you wish to do so later.
The table sounds great for the money, just stay away from Rega cartridges, much better available at a similar pricepoint.
As the owner of a P3 (with a Michel Tecnoweight and Funk Achromat, both of which are significant upgrades on stock) and being the owner of a $1k CD setup I have to say that I don't think a P3 could compete with a decent $3k CD player.

The P3 is IMHO a great deck, but not good enough to compete with a $3k CD player.

IMO My Marantz CD67->Monarchy DIP classic->Monarchy 22A is better than the rega. The reason I don't upgrade the rega is just that I don't want to spend the money at present.

If you're serious about getting into vinyl (and I think it's a mistake, personally) I think you should be looking at decks like the NA Spacedeck, VPI scout as a minimum.
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I think the digital/anologue debate is obviously based on personal priorities the lot of which are complex. IME there are qualities to both that are appealing even at the lower eschelons of both. My own preference is analogue at even a modest price point and the P3 is definitely within that bracket.

On another tack, re: Gallusm's comment on Rega carts, if you haven't heard the new versions you might be surprised at how good they are and they are, naturally, a perfect match for the Rega Tables. I just sold a P5 with an Exact II mounted on it and it was stunning considering the price.