I was where you are about 18 months ago, and bought the ProJect 1.2. There isn't anything wrong with it per se, but it isn't the greatest source. I need to get a VPI cleaner, I think that would help alot since all my LPs are second hand. Point being, I think you will be happier if you invest more at the front end than I did. Keep buying LPs until you have the chance to get a good table.
Starting out
I am getting a TT fund started. So far it's at $250. I upgraded my speakers,pre amp,and cables this year and do not wish to write a check for a TT. This weekend I have been going through the house looking for sale items! We will see what happens. My 2 channel system: Dedicated outlet,Anthem amp.2SE,Musical Fidelity 3.2 pre.,Sony DVP9000ES,and Dynaudio contour 3.0. At what point would I pass up the 9000es. The Dyns are just incredible speakers,the detail blows me away. Music Direct is close by and I stop in often. They really like the vpi scout. I am looking at the mmf7. I plan on keeping this systems kind of simple. I'll keep saving for now.
Tim
Tim