The Project 3 is a nice turntable that comes with carbon fiber arm and cartridge (and detachable ic's)all for $699-.
The VPI Traveler with tonearm, good cartridge and ic's will be pushing $2,000.
I spent hours with the Project3 at CES this year and found it a bargain at this price. Solid and well built but not in the Traveler league as far as build quality, weight, tonearm and any other way you can objectively measure a turntable. I believe the Traveler's platter is heavier than the whole Project table/arm/platter so, side by side, they are very different in fit and finish. But, turntables are built to make music and that is very subjective, what sounds good to me may sound bad to you.