I am up to roughly 350/ 400 albums now. I buy at least 2 or 3 a week and this includes both new music and reissues. I still have a considerable number of CDs (10,000 plus). Price determines whether I buy a CD or LP of something new.
I would go with something different than the Rega 3. My starting point would be the Pro-ject Classic 25th Anniversary. You will want to fiddle with cartridges and turntables. This one will keep you satisfied for awhile.
http://www.needledoctor.com/Pro-Ject-Classic-Turntable_2?sc=2&category=352
Rich