The Ortofon Red, which is a tipped ellipical diamond, is a better sounding cartridge to my ears. It also fits my Rega tonearm perfectly without any need to adjust the VTA.
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I had a Pearl many years ago, on a Thorens 280 for a second system . . . it had a nice sound, but I wasn't happy with its tracking ability. I haven't specifically tried a 2M Red, but I've had some time with a 2M Blue . . . and have owned/installed a decent-sized pile of similar Ortofon MMs - these have been faster, more precise, and better tracking perfomance, and this is more to my taste.
You might also look at the Soundsmith entry-level MMs as well.