Upgrade Suggestions for Turntable/Cartridge/Preamp chain

Technics SL-1200GR

The IPT RigB metal body for the VM95 is getting high praise. Worth looking into for fairly low cost.

Don’t know what’s in the rest of your system, but on the other hand, I went from a very good VM95SH that's reasonably similar to the ML, to a Nagaoka MP500 and am loving the lush midrange clarity and musicality, extraordinary separation and soundstage, as well as pristine refined treble. Not low cost by any means, but is a very special cart. The MP200 or 300 would also be worthy of consideration.

What fun you will have.

I would keep that TT and Tonearm until after other upgrades were complete, it must be fun to use.

I would keep the existing headshell and cartridge and use it specifically for recordings that are 'too wide'. the cartridge is only 23db channel separation, and it's channel balance is 1.5db. It wants tracking at 2.0 grams, a bit more than I prefer, but not heavy by any means.

It would have been best for recordings like these:

https://forum.audiogon.com/discussions/2-wonderful-stereo-lp-s-rescued-by-mono-mode-and-balance

next: an additional headshell that allows azimuth adjustment

https://www.ebay.com/itm/293416434592?hash=item4450fb7ba0:g:fWQAAOSwq4VeXaps

next a MM cartridge with both wider channel separation and tighter channel balance, you will enjoy better imaging for all but the 'too wide' ones. this one sep 30db; bal 1db, also tracks 2.0g.

https://www.audio-technica.com/en-us/cartridges/type/moving-magnet/vm750sh 

next: how are your cartridge/arm alignment skills??? you need a few simple inexpensive tools and some practice.

for ANY TT, proper alignment of a cartridge, especially one with an advanced stylus shape, is more important than the very finest jeweled ...

next: try a different MM phono stage, perhaps tubes. when it comes to phono stage, I avoid 'better' and go for 'preferable'. always have return options. we cannot measure preferable, we just know when we hear it.

for MC cartridges, I am an advocate of finding a wonderful sounding MM phono stage FIRST, and using a separate SUT for MC which needs it's signal strength boosted to use that preferred MM phono stage. 

I'd be interested in what amp and speakers you're running, too. But based on what you listed, I'd start with upgrading the TT. The carts are decent enough. There's a point of diminishing returns when you put a high-quality cart on a so-so deck. Spend on a quality TT now that future higher-quality carts will benefit from.

Actually, with $1,500 I'd be apt to just get a fully serviced Technics SL-1200 MK2, and you would still have plenty leftover to stick a killer cart on it...like a Nagaoka MP-200, Hana EH or Benz Micro Silver. Then you're done with it...for now :)