That or an old Dual will do real nicely with an Ortofon cartridge like the OM-10 ($60) or OM-5 ($40). They sell a 78 RPM needle that fit either for like $30.
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Sugarbrie has pretty much said it all. I can only add that 78's SHOULD be played with a special, conical stylus, not a stereo stylus. There is also a special stylus that has a "V" cut in the end, so the stylus rides the ridge of the grooves, not the valley. This kind of stylus has been used to transfer 78-rpm recordings onto tape for re-issues. The other point, which you may know, is that many 78's were not cut at exactly 78-rpm -- they can vary anywhere from 76-80 rpm, so it's nice to have a turntable that allows you to slightly decrease or increase the rotation rate.
It's been a long time since I listened to any of the 78's that were in my mother's collection, but I used to use a Shure cartridge (M97?) that had a conical stylus that Shure made specifically for 78's. This cartridge/stylus combo wasn't very expensive, and may still be available. Check with Jerry Raskin's NeedleDoctor, or Garage-a-Records.
Thanks for all the suggestions! I will get a proper stylus.
Is the tonearm very important? I do remember about the speed variation. I was thinking that perhaps if I got the SDS for my VPI that it could work at 78 rpm? Then another tonearm tube with the Benz cartridge. But that would be too simple.
What kind of potential fidelity is available from 78's?
I love mono recordings as it is and have even been thinking about getting the Helikon MONO Cartridge.