I'm not sure I would go as low as $30, but I would certainly recommend a good $400 cartridge in a quality vinyl rig. I have an Audio Technica AT33EV in my Triplanar right now, and I have to tell you it sounds very good. Not quite as good as my Benz LP, but still amazingly good considering the price difference. I had a Benz L2 before the LP, and I am sure I would choose the AT over the L2.
This reinforces my opinion that the priority should be: Turntable is #1; Tonearm is #2; and the cartridge is #3.
This reinforces my opinion that the priority should be: Turntable is #1; Tonearm is #2; and the cartridge is #3.