Where to start with vinyl

Sgunther, just to add to my earlier post, if you need to skimp anywhere, I'd skimp on the cartridge... You could get very good results using a Benz Glider or Ace (low output preferred) if you don't want to spring for the Reference 3. That would get you going and I think you'd be very pleased.

Wrong... High output cartridges are much easier to deal with. Its really a tradeoff. Yes you might get very slightly more detail with a low output, because of the fewer windings on the coil, however rf, hum, noisy power, etc. can and usually does swamp that detail.

Make sure you've actually listened to some records on some system before you spend the bucks (ask where to "start" so I'm making a guess the whole thing is new to you--if not, just disregard this post).

I would go with one of the VPI turntables or the SME 20/2, which is what I have, assuming you could spring for the $11K. I would also recommend one of the SME or Graham arms--I have the Graham Phantom. And my experience with very low output MC cartridges is similar to that of the posters above. Anything below about 0.5 mV and a lot of problems can arise.

Rega TT from the P3 on up, Dynavector 17D3 cartridge, and Dynavector P-75 Mk. 2 phono preamp (will accommodate low or high output cartridges). To borrow from one of the other responders, this combo will be "more satisfying" than virtually any digital playback device. Good hunting!