Rega P2 large improvement over Pro-Ject 1.2?

I currently have a Sumiko Pro-Ject 1.2-- the rest of my system is listed in the link. I'm curious how big an improvement I would see by moving up to a Rega P2. Would it make sense to buy that and then spend extra money on tweaks, or to simply save more and get a P3? The P3 is probably the most expensive TT I could afford.

Also, my biggest issue with my current turntable is that the platter has kind of a slow wobble thing going on. I understand that this is something fairly common for inexpensive turntables, but it bothers me to no avail. Does the P2 exhibit this same problem?