IMHO, not the 103, as it really sings best with an arm mass over 14 grams. I would cast my net a bit wider and include the Dynavector 17D3 and 20XL as they mate very, very well with the Rega arms.
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I've tried 2 Rega carts including their top o'the line Exact and I was very unimpressed with either one. They're easy to set up... and that's the end of the list of good things I found to be true about Rega carts.
The P5 is a good turntable, go for a Dynavecto 20XL, Ortofon OM2 Black or similar.
I've used a Denon 103R and a Denon 103D on a Rega arm and it worked fine, but it was better with a headshell weight attached.
I have a P5 with the new Glider SL, and it sounds beautiful! The Rega Exact cartridge is very good, but IMO it's lacks the speed and highs of the Glider! Just my two cents! Just make sure that what ever cartridge you purchase it complimenst your phono-stage and vice-versa! Looks like you already have a great system! My vote is for the Glider! Good luck!