Before you sh!tcanned your Ortofon OM5E, you could have replaced the stylus with the OM10, 20, 30 or 40 for a much improved sound. The cartridge wasn't crummy, the stylus was.

I'd look at a Rega P2 ($525) with an Audio-Technica AT-OC9 MLII ($280 or $220 off list price at LPGear right now) for $805 total. You'ld be way ahead of a Music Hall MMF-5 with a Goldring G1012.

I second the Rega recommendation, but suggest maybe starting out with a Bias2 or Elys2 cartridge for guaranteed compatibility and ease of use.

Erik_B is quite right. I got a little excited thinking of the possiblilities. A Rega P2 with a Rega Elys Mk2 MM for $750 would also be way ahead of a Music Hall MMF-5 with a Goldring G1012 and compatibility/ease of use would be assured. No MC phono stage would be required as would be necessary with the Audio-Technica AT-OC9 MLII. Thanks for bringing me back to earth.