I have the TP16 on my TD 160 Thorens and find it pretty decent.. I know many Thorens ( vintage ) owners have upgraded to the SME arm and many like it very much..The only problem for me is ,if I am going to have to invest that much more money for another arm I would consider selling the table and re-invest in a better unit..I am also sure there are many other arms ( Rega being one ) that'll work very well also....
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I had the TP16 MK II arm on my Thorens T160 MK II table. The low mass of the arm limited my choice of modern cartridges, so I decided to sell the table.
Because of the difference in arm mass between the TP16 MK II and the RB300, they cannot really be compared, IMO.
For more info, read the tonearm database at Cartridgedatabse.com