Yes Pryso. The Mk III has a straight removable arm tube (headshell is fixed).
A point of clarification on the "no man's land" of tonearms between the $5-800 price-point and $5K and upwards.
1. I haven't tried every tonearm extant.
2. I intentionally omitted the Analog Instruments Elementum for two reasons: (a) I've had private dialogs with James Grant (its designer) and we may be taking on a project together, and (b) James has come to realize it is far more expensive to manufacture than the unipivot arms on which he based the pricing. Knowing what goes into its manufacture, I'd asses it fair price to be in the $4,500 to $5K range.
Cheers,
Thom