Kenwood KD-500-Use it or Lose It?

I've had this turntable for 25 years, the last 15 or so unused in the garage. I'm thinking of getting back in to vinyl, and was wondering if I should buy a new arm/cartridge for this table, or just scrap it. Does a modern table sound that different than the older stuff? Why is direct drive considered passé when it was all the rage? Sorry for all the questions. I'm sure I'll have more as I go down this path of ruin.....
Use it I have just set up a KD 500 with a Rega RB 301 and it makes great music! I built it up for a friend and she loves it.
I agree with theSoundhouse post. Unless you have the all time golden ear, one can't do much better than this venerable performer. The table is a tank with excellent build qualities, have never seen one of these fail. Put a good arm on it like the suggested Rega, or a Linn and your set for a very longtime. For more info contact Larry at Hollywood Sound in Hollywood, FL, over 30 years into analog playback and has agreat selection of tonearms in all price ranges. Enjoy!!
After Buying an arm and a cartridge, I'd be in to it $500. Would I be better off spending that money on a better table?
There is nothing I know of in the $500.00 range that is going to offer the same level of performance of what you have. If the KD500 was mine I would put a Rega arm on it and get on with spinning the vinyl. Just my nickels worth of advice.