New Cartridge

Dynavector 10x5 would be the obvious choice which is known to work great on that table.

Apparently Nagaoka carts also play well with a Rega and generally seem to be underrated the MP200 or 300 would be in that range.

I had the same TT with the Exact 2. Unless your stylus is worn out, I'm not sure you can gain a big improvement at your budget.

@ericsch 

http://www.rega.co.uk/exact.html

this cartridge output is too much (6-7mV), the diamond is fine (Vital), but the rest is nothing special, this cartridge can be easily upgraded within $600 for much better cartridge. I want to remind that Rega is not a cartridge manufacturer. 

Also i can't remember anyone said anything good about this rega cartridge on audiogon, almost any good MM cartridge discussed and compared to each other in MM thread for decades. 

Any thoughts on the Ortofon Black. Know it’s a little over the budget.

Sumiko moonstone $300, sumiko amethyst $600. Look at Mike Fremers review of the Moonstone on analog planet....great review. A really nice budget mm is the shure m97xe, now discontinued....but it can be had at a price. I own one on an alternate Lenco turntable and it sounds fantastic. Quite honestly, if it were me I’d make the move toward a m/c cartridge...the Hana el ($475) or the audio technica AT F-7 ($289). Another is the Ortofon Quintet Blue ($524). To me they just sound better. I have a brand new sumiko blue point no 2 (high output moving coil) I could sell you. It will work on your mm phono stage with no step up required.