I could also have a wooden disk cut to the same size circle as the SME arm board and attach the TP arm to it. I don't want to detract from the aesthetics of the system, but I suppose I can paint it black so it blends OK.This will result in reduced performance. Here's why:
One thing that is really important in any turntable is the fact that vibration occurs in the plinth. If the vibration is different in the arm mount as opposed to the platter surface, it will be interpreted by the pickup as a coloration. So the armboard should be of the same material and as tightly coupled to the plinth as possible. Anything else will introduce a coloration.
If I were you I would get a blank arm board from SME and simply drill the three mounting holes for the screws.