Consider this, a new Rega P3 or used Systemdek, but Incognito wire the RB250 or RB300/301 arm, and get the Michell Technoweight too. As far as cartridges, Denon DL-110 or DL-160 are fantastic. Upgrade to Dynavector 10x5, all 3 are great intro to vinyl carts. Put the tt on a wall shelf(especially Systemdek). I've spent all the money you alloted, but a Cambridge Audio 640p is a great phono stage for the money. Next, Google the Van Den Hul turntable system setup, this has been very important to my vinyl listening enjoyment. The Rega is so simple, it's hard to go wrong with it. Systemdek IIX sounds better to me, but requires some setup. You'll also need a Shure stylus force gauge, a cartridge allignment protractor(DB Systems or the like), and a bubble level to get your setup close to correct. You and your friends will love listening to records with this equipment! Enjoy!