Wow! You really are the thrifty audio shopper. Now I feel bad about urging you to spend >$100 on a cartridge
this would exceed the entire cost of the rest of your system. Compounding this asymmetry is the fact that cartridges are typically sold at margins of 70-80 points. Of course, its tough to find a quality cartridge at a garage sale/thrift store; although, I get a sense you might find a way. The Grado Red and Blue have the same design. What distinguishes them is that the Reds spec out better under testing. Quantifiably how much better we dont know Grado claims the cohort represents the top 10 percent. Then I guess Joe and his Lab buddies paint every 10th one red:) Ive always used a Dennesen protractor for cartridge alignment, but, since youre not likely to come up with one of these or an equivalent, youll need to go the DIY route. Below is a link for a DIY protractor to help you set the overhang and VTA. Ive never used it but its based on the Lofgren geometry (both A & B versions) so it should be sound. Good luck!
Protractor Download
Protractor Download