I have owned a debut III for about 5 months now and although it is a capable unit it is not nearly as resolving as I would like it to be.  Also the motor is unveccesarily loud.  As far as dynamics are concerned it is ok.  The Rega's mentioned are some of the best TT's I have heard, I went with the Project to save money to put towards my Vinyl collection. 

Technics SL-1200Mk2 show up in the $400s on Craigslist, and you'll be happier than spending the same money on new. Plus you can get parts, new in the box parts, on eBay. Keep that cartridge, Orotofon OM2 Blue. I have it too. My opinion is put more money in where the sound originates - in this case turntable, cartridge, and speakers. Secondary is pre-amp and amp.