Brand new to vinyl: Help!

When I was starting out with a high end system back in the 1981, I purchased the Dynavector 10X3, an Ultracraft tone-arm and a VPI 19 (since upgraded to a IV version and used for 78 rpm records).  Sure, my current turntable/arm/cartridge system is $16K, but the old system is still very musical.  I suggest looking for a good condition, used high end table, same for arm and a matching cartridge for that arm (compliance-wise).  A Denon 103 makes an inexpensive but great sounding cartridge to start with on a good used tonearm (or maybe a Rega 3 if compliance is correct).   You should spend about $1000 total to get a set-up to at least meet the CD quality sound and in some ways better it.  Analog is just more cumbersome than digital.  I love both, mostly based on mastering of the recording.   Look for a higher end used deck or stick with the Project. 

Get a better cartridge for sure.  I've used that deck for 2 friends who inherited their father's large record collections but didn't want to spend much on turntable/arms.  After using my recommendations for a better cartridge, they thanked me for the great sound at a bargain price (one got the Ortofon mm Blue, the other a Dynavector 10X5)

Yes, the IC is rather poor quality.  A good used one should run you under $100.  My SME IV also came with a piece of crap IC for what was once a $3500 arm.

Update from OP here:

Long story short: bought a Clearaudio Concept from my local dealer. He gave me a good deal I could not pass up. Just the standard tone arm and standard “concept” cartridge.

Just set it up with my dealer’s help, and it sounds great. No comparison with the Project Debut Carbon DC Esprit which is going back.

To complicate things, I have an Ortofon 2M Bronze coming in the mail, so question becomes: is the Ortofon Bronze better than the standard Concept cartridge, or should I just return it ?

Nobody?

Boy, you don't fool around thyname!  Totally different leagues between the Debut and the Concept as you've already discovered.

IMO, the 2M Bronze is much better than the Concept MM.  Not everyone would agree, but that's as may be.  Do you really want to change it out right now?  That's not an easy answer.  It generally takes some time to get everything to equilibrium and properly broken-in; usually ~50 hours of use.  Only then can you identify the synergies and weaknesses in any given rig.

The Concept MM can always be sold later if you aren't satisfied, as could the 2M Bronze.  Depreciation will apply to both, although the 2M can stay in the box for awhile without losing very much.

My suggestion would be to return the 2M and live with the Concept MM for the rest of the year.  Save your money, think about how your system performs and do some A-B comparisons between your digital sources and your analog source.  Try a few "golden oldies" like Getz & Gilberto or Harry James on Sheffield too.  At that point, you might well find that you'll want to make the move to a LOMC instead.  That move most often represents a whole new world of detail, image and dynamics.

Your call either way.  In the meantime, enjoy a very nice vinyl rig.  Happy listening!