The price on the Oracle is too high. You could get a mk V with sme arm for that . Then it would be no contest.
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I had a mate with a P5 with groovetracer mods, separate power supply and Shelter 501. He tried the Rega P7 and it was no better. He bought a P9 which was a significant improvement. If you buy a P9 make sure you get the RB1000 arm as it is much better than the RB900. I have owned older Oracles and they are very smooth and salubrious sounding. The P9, being a fixed plinth design and having a very good external power supply individually tuned to the motor, it strengths are speed and timing. In summary I think the Oracle will give you a richer fuller sound, very nice, the Rega will give you a slightly leaner sound, but better pace and timing. The P9 is in runout as it is being replaced by the P10 so there must be some very good deals out there. Maybe your dealer can negotiate with the importer if he has stock to quit.