My personal experience is in-line with what 4yanx has written.
I used to own a Music Hall MMF-5. I had the orig. tonearm wires cut off & female RCA jacks installed so that I could use my own cables. Other than this the TT was stock. Incl. tax & this mod. it cost me $480. My trusty-rusty H/K HD7625 CDP was bought for $400 (retail $560 but I got a good deal). I can confidently inform you that the MMF-5 bested the CDP by a long shot. The vinyl was simply more emotionally involving. I ran the MMF-5 into my CAT phono stage, which is dead quiet. So, other than the expected groove noise, the system was just as quiet as the CDP when the music played. Of course, the better I scrubbed my LPs, the lower the this noise got (upto a certain pt).
The performance of the MMF-5 could be improved & I checked the AudioAsylum for MMF-5 tweaks. I found a # of them such as employing blu-tak on the motor, using the Ringmat instead of the felt mat, using a silk string or audio cassette tape instead of the rubber belt, upgrading to the G1042 MM cart. Most of these tweaks cost very little. Also, when I was shopping for the MMF-5 I found that HCM Audio offered the MMF-5 with G1042 MM for $75 more than the stock. So, it was possible to get higher grade perf. at a marginal extra cost right from the get-go.
In conclusion: I'm saying here is that it cost marginally more than my CDP to get far better sound.
AFAIK, the present owner of this TT is still enjoying it!
I started with a piddly little collection of less than 20 LPs! However, I knew that vinyl was the way *I* wanted to go. So, like other members who have posted this:
* Make sure that you want to go the vinyl route. I.E. ensure that you can endure some "pain" as vinyl play-back is seldom plug-and-play.
* Make sure that you enjoy seeking LPs at Salvation Army, Goodwill or your local store.
* Make sure that you can clean these LPs so that you can maintain a high quality sound.
* Make sure that you will be able to endure the pops & clicks on many used LPs as their prev. owners probably took minimal care of the vinyl. If you like music (rather than being analytical of the sound each & every time you sit to listen) then you might be able to endure the pops & clicks. I know a bunch of friends who just cannot stand the thought of vinyl!
* Make sure that you can endure this high maintenance hobby 'cuz (make NO mistake) it IS one!
* Most of all, make sure that you have the vinyl mind-set. How many CD-ONLY guys will walk up to the rack & flip the side of the LP??
It's a lot of fun to spin vinyl both from the music & memories pt. of view BUT the opinion is HIGHLY personal.