Rega P-2 turntable: Best cartridge match for $ 200

I am considering the new Rega P-2.turntable.... Need some feedback about the overall sound quality of this table. Is it a good value at $545?? Also, what cartridge in the $200-250 range would be best suited to its tonearm mass and resonance?? Would the Denon DL103 high output moving coil or the Shelter 201 MM be a good match??? Thanks Jim
Jim nice table, the only other table that I would consider, new, in the price range, is the venerable Technics SL1200. You do not mention what your phono stage is, but the Denon DL103 is a very low output moving coil. It is not a particularly good match to the Rega arm in stock condition. Denon does make a couple of very nice high output moving coils, the DL110 for around $120.00 and the DL160 for around $180.00, which I prefer to the 110. Both are a nice match to the Rega arm. Other nice cartridges are the Ortofon Blue MM for around $200.00 and the AT150MLa for $259.00 or so.
For this money, I strongly nominate the Technics SL1200, a Sumiko headshell, and the Audio Technica AT150MLX, currently available for $249 WITH shipping from J&R Music World. If that deal's off, LPGear has'em for $259. This is a killer deal; this cart's $399 at Needle Doctor and most other places.

I just put this cart/headshell on my SL1210 M5G and it's stupid-good for a total of $750. I never thought I could have achieved this level of musicality and detail at this price. With the Sumiko shell increasing the arm's effective mass to 16.5g, this arm/cartridge combo has an ideal 10Hz resonance.
For the Rega P-2 I would consider a Rega Cart.
If you're set on the P2 I would definitely agree with everything Viridian said. My 2 cents would be to shell out another $50 and go for either the Grado Reference Platinum or the Sumiko Blue Point No. 2 high-output MC. If you have a Grado dealer in your area you can usually get a better deal in-store than from Needle Doctor or any other online store. For instance, the dealer in my town is selling the Reference Platinum for $280. That is an absolutely unbeatable cart for that price.
06-26-08: Xiekitchen
For the Rega P-2 I would consider a Rega Cart.
Having heard a Rega Exact on a Rega P7 in a pro setup at my local vinyl store, and now owning an AT150MLX on an SL1210 M5G, I'd have to say that the AT150MLX is *at least* the Rega Exact's equal, at a little over 1/3 the price. In fact, the AT150MLX reminded me a lot of the Exact, and I mean that in a good way.