Phono preamp/cartridge recommendations

I recently purchased an entry level Music Hall 2.2 turntable with the Music Hall Magic 2 cartridge. I also purchased the Project Phono Box MM Phono Pre-Amp. It really doesn't sound very good. What quality upgrades could I make with a budget of 600 to 700 dollars. I appreciate the input. Thanks!
My system includes:
Zu Omen's
NuForce STA-200
Schiit Saga
Musical Fidelity V-90 DAC
Rotel RCD 1072
MacBook Air

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I would split the money 50/50 on a good used cartridge and a used phono preamp. If you do your research you should be able to land some decent gear.
This is superb phono stage for MM cartridges, also nice for LOMC. 

shipping included in the price:
AUD 1490 = USD 1070 for the latest mk5, i think it's great price 

I have previous version without that special PSU, the price for presious version is about $750 (my version is modified by the manufacturer to use higher loading for MM, i normally use 100k Ohm for MM)