Graham or the Frog: which is crucial?

I own an Oracle Delphi Mk V/SME 309/Goldring Eroica H combo running into an EAR 834P. As tragic as this is to admit, we are approaching the twlight of analogue replay which makes it excruciatingly difficult to audition equipment. I would like to upgrade both my tonearm and pick-up cartirdge, but I would like to spend some time listening to these thousands of dollars worth of gear before I commit! These are my three questions: 1.) Is the tonearm or the cartridge more important and why? Which should I spend more on? 2.) Is the Graham 2.0 a good match for this 'table? Mikey liked it, but I've never heard it. Any other suggestions? 3.) Is the Frog a good mate to either of these? Again, any suggestions? Thanks.
I would say that the arm is more crucial - with a top-notch arm you will be able to better appreciate and discriminate the difference in cartridges. I have never heard the Graham either, yet based on what I've read I'd like to have one as well. My thinking is that perhaps my cartridge (a LO.4) isn't performing to it's highest potential on my current arm, and swinging it on an arm like the Graham may bring out it's best. The same may be true of your Goldring.
sgh, where do you live? if you don't have a graham dealer in your area, email me and i'll give you someone to call. i agree with musikdok that the arm's most important, though you won't fully appreciate the many attibutes of the graham without a cartridge of equal quality that fits your system. before my graham, i had an airtangent 2b and sme 5. the graham blows these away. it will, BTW, mate with your oracle but sound even better on a basis.
I currently own a Graham 2/Ceramic on a Michell Orbe. I have heard the SME 309 on the Oracle IV, briefly though, and I thought it sounded good. I recently heard a Oracle V with a Stogi(?), the more expensive model. It sounded good as well and it's cheaper than the Graham 2. I have heard the Graham 2 on a Basis 2500, and on a different Orbe. In Both situations they sounded good and different. It really tells you what the cartridge is doing! I'd go for the arm before the cartridge. In my case I replaced the table, arm and a week later the cartridge, which was sounding a bot ragged anyway after 4-5 years of use, after I snapped the cantalever!