What Budget turntable should I buy?

There is -right now a VPI jr,RB300,and a phono cart./ and phono stage;for a great price, used ! This will be good enough till you spend 10Xs the $$ upgrading everything else.--Then you can upgrade THIS ! No it ain't mine-- but if it were; I love shameless plugs.

I have a similar setup.

I would recommend the Rotel RQ-970BX phono preamp. It will handle mm or mc, has excellent parts quality and sounds much better than it should for $200 list (a steal). Rega has always been good value and Project offers great table/arm/cartridge combos for the money.

Needle doctor have good deal on Project turntable pre amp with MM/MC and some other accessories for $499! All the rest yoy were ready to spend, spend on good cartridge!
Check it out: http://www.needledoctor.com/showcat.cfm?catnum=27&parentcatnum=0

For the phono preamp, save some money and pick up the battery powered model that Radio Shack was selling for $25. Rechargable batteries and a charger should run another $25. Much better sounding than any of the budget preamps you are considering, though it only works with high output cartridges. If it is out of stock, there is a guy on Ebay selling them with a $20 buy it now. The model # is 42-2111 (in Canada) and I forget the US designation. It only has around 38 dB of gain, but being so quiet (DC operated) this should not be a problem as long as you run it through an active preamp line stage (not a passive one), just turn the volume a bit higher. It is called the "little rat" in the Audio Asylum forum and you will find a number of comparisons there. Far from SOTA but very musical and again as good as any $200 phono preamp that I have heard. This way you can put more money into the TT.

If you are really on a budget look for a used REK-O-KUT. a "No Brainer". For the money you can have one in every room! Out performs table upwards of 1K. Worth the money just to buy one and try it. It made my LINN ,P25 ( and myself) look stupid. Definitely the last table I'll own. If you find one let me know.