Phillips 777 TT worth putting any money into?

I've recently gotten into the world of LPs. Went out to the shed and dug out my dad's old Phillips 777 turntable. The turntable itself is in reasonably good condition, with the only visual problem being mostly all of the connections are coated in corrosion. The audio, however, is awful. extremely distorted. The stylus most definitely contributes to this, being over 15+ years old, as well as the cart. My question is whether i should spend the money for a new cartridge & stylus, as well as cleaning all the connections, or would i just be better off with a new turntable?