Should I try a MC cartridge and phono pre?

I'm not an analog guru by any stretch, but when I phoned Music Hall to inquire about the appropriateness of mounting a Sumiko BPS (MC) cart to a Music Hall MMF 2.1, I was told that it would not be a good idea because the bearings in the tonearm aren't made to high enough tolerance to bring out the best performance from a MC cartridge. The MMF 2.1 is a current entry-level audiophile belt-drive turntable, and while it's an unrelated comparison to what you're asking, it does speak to the suggestion of using a better MM cartridge on your table, or scrapping the lot and heading for higher ground.

As an aside, I've since redone my analog system and went to a better 'table (Michell Gyro SE), but I chose to stay with a MM cart (Shure V15 IV) just because I can replace the stylus - a re-tip job is too likely with the fumbling hands around my household (mine included!)

If you want to keep the retro kick alive and go MC, the Denon is an appropriate choice. If you lend credence to the MM / matching argument in this thread, here's another suggestion: a Shure V15VxMR.

The V15VxMR is the latest in a legendary lineage that began in 1964... it's still an "editor's choice" reference MM cartridge, and has been improved in every new version. It's a very fine MM cart with great bass, trackability and toe-tapping pace. I happen to run an early '80s V15 Type IV cart (new stylus) on my Michell Gyro SE/Rega RB600. This is very much a case of the "upgrade order" suggested by Dougdeacon - I haven't bought a new 'cart since getting the new 'table and arm, I like the V15 just fine!

Whatever you do, best of luck.