Age old discussion I know but MM or MC? Benefits?

Out of interest @chakster which cartridges do you call the vintage MM's?
@lewm REG may well be an MM fan - it's is essentially a perspective, my point was that it is equally valid. Tom Fletcher of Nottingham Analogue was another well known proponent of the MM. 
There are also some interesting hybrids such as the MMC as designed by Bang and Olufsen (yes of lifestyle fame now I know) but they were designed ground up with a parallel tracking arm in mind with exceptionally small and dexterous stylus tips. 

@lohanimal 

Out of interest @chakster which cartridges do you call the vintage MM's?

I'm talking about top MM cartridges from the 70s/80s era, from various brands such as Audio-Technica, Stanton, Pioneer, Glanz, Grado, Grace, Victor ... Most of them are RARE today, but still not expensive compared to modern MC. Those vintage MMs are hard to beat at any price, but i'm talking about specific models, not all of them are interesting. 

Well I pulled the trigger and bought the Nottingham Spacedeck cw Spacearm and a nearly new Shelter 501 mk3 mc cartridge. This is apparently a medium voltage cart at 0.5mv and was reportedly a good match on the arm but obviously in my system we will have to see.
Cant wait.....

Great. Yes, the Shelter is liked by many with Nottinghams. If you have questions regarding the set-up you might want to talk to Larry from Hollywood Sound, he knows Nottinghams and I think the only distributor/dealer in the US. He also likes MC cartridges. You will probably want to use original Nottingham oil that he should have, though you could get it cheaper from the UK dealers. Belt lasts a long time but still you may want a new one. And of course you will need a record mat to replace the stock. Most people prefer Boston Audio graphite mat, but the company is no more so it's difficult to find. I am sure you read the Nottingham threads on Audiogon, see what alternatives are there. Also, as I remember, just about everyone used one of the three isolation platforms under Spacedecks - 2"-3" maple block, Symposium or Neuance (no longer made) but you can start with the platform it comes with. I use 3" maple block with Boston Audio tuneblocks under it.

@inna 
Thank you for the very usefull information.
The previous owner has included in the sale some original oil and a spare belt which is very nice. But the contact for future reference is helpful.
I will likely try it on maple blocks first as I have quite a few different size blocks around the place.