I have and old HW19 MK4 with the original JMW Memorial 10 arm and DV XX2 MK2. And was unimpressed. The same thoughts as yours went through my mind. I used the Mint LP tractor, digital scale, loading, VTA, phono pre - you name it. In the end I tried a Nordost Frey2 tonearm cable and found some hidden magic in the rig. So I went to Frey2 for the line to main amp and then phono pre to line pre. Each step brought all aspects of the sound up to a new level and now I wouldn't dream of changing it. If my old rig can go to freaking awesome from disappointingly frustrating I'm sure yours can too. I mean, the magic's in there. Finding it is the thing. Just a note here - I have the old Frey to compare to and it's not in the same league as the 2 version, not even close.
Bill