Tony, what were you thinking about as a budget for you phono cartridge? And what type of music will you be enjoying on record? I think that the 202 will be a fine starter rig.
I own and still use my original 1982 Technics SL-5 direct drive table for occasional vinyl listening. It probably has specs very similar to yours except mine is the linear tracking type. Several years ago I took the table out of storage and replaced an 80's-era Audio Technica AT132EP cart with a Grado PZTE+1 (similar to their current "Prestige Series" black and green carts) on the advise of DB Audio in Berkeley (RIP!) and I think it sounds pretty darn good all things considered.
My Grado was purchased new for only $30 and it really surprised me with it's refinement in sound for it's modest price over the AT. Much smoother sound overall and less sibilance in the highs. Makes the little Technics very enjoyable to listen to. Definitely check out the Grado Prestige series black or green.