What To Do?

I would think with $12K you could do all three, what components are you looking at?

You can get a top shelf cartridge and a phonostage for maybe 4-5 K$.

Personally I would start there and then decide it if it is good enough.

A tone arm and something to put it on.

I'm drowning in choices.   I'm looking at Gold Note and Line  Magnetic for phono preamp.   VPI, Dr. Feikert Volare, Acoustic Signature Double X Neo, Rega Planar 10 with Apheta 3.  MC cartridge but no idea Which one.   Maybe a Hana.  I'm open to anything.  Open to any arms but was looking at recommended ones like a Gimbal or Kuzma.  figure the you guys can give me some advice since you've been down this path before.