09-04-12: Manitunc
Please do not buy the Audio Technica. Every audiophile forum has given this item poor reviews, but they are heavily promoted on Amazon and others sites because of the build in USB and phono preamp, presumably for people wanting to transfer their vinyl to digital. It may be ok for creating MP3 files, but not for pure listening to vinyl purposes. think about it, $300 for a turntable, arm cartridge, phono preamp and AD converter with profit for manufacturer, distributor and retailer. What could you really expect for that price? and how much is apportioned to the turntable/arm/cartridge only.
Did you miss the memo? In Issue 11 of Tone Audio, editor Jeff Dorgay (who regularly spins his vinyl on 5-figure rigs) gave it a pretty enthusiastic thumbs-up for what this TT gives you for $300. Have you ever heard of economy of scale? AT can make tens of thousands of these on a highly automated, high precision assembly line for far less money than something out of the British turntable cottage industry. Sold separately and in its own anodized extruded aluminum housing, Audio Technica's ATPEQ3 phono stage sells for around $82, was reviewed by Michael Fremer in Stereophile and nominated for 2010 Budget Component of the Year.
Your entire post is based on audiophile dogma and second hand knowledge gleaned from forums that recycle and regurgitate audiophile dogma. OTOH, I have one in my house (for my son) and it's really not bad. It's especially a good call for someone just getting back into vinyl who may be lacking a phono preamp and isn't comfortable with removing the platter every time he wants to change speeds. The AT120 is easily improvable for very little money, such as a better headshell, better mat, a clamp, and better footers and/or isolation platform. Many of the "audiophile approved" entry level turntables only work with a narrow variety of cartridges unless you buy an aftermarket counterweight that costs half again as much as the turntable itself. The Audio Technica can handle cartridges of many weights, and even has adjustable VTA.
If you knew the wholesale prices of entry level cartridges, and how much the housing adds to the prices of components such as phono preamps and digital converters, the final price of $309 wouldn't seem so unrealistic. AT includes the IC modules on the turntable chassis without the cost of extra jacks or aluminum housings. They really don't cost that much.