Will a $700 turntable outperform a CD player?


I’m looking into getting a second source as I don’t want to be tied down to internet and a streaming service as my only source.  Will a $700 turntable and inexpensive phono preamp out perform a Cambridge CXC transport / Schiit Gungir Multibit?  
The Schiit Sol / mani preamp look enticing but I know nothing about turntables.

I used to dj and always used technics Sl1200’s and really liked them.  I can pick up a nice SL1200 mk3 used for $600...

I figure that before I start spending hundreds, possibly thousands, on cd’s or vinyl, I should be sure which format I want!

Thanks for any advice / input regarding this 😁

Best Regards,
Bruce
b_limo
Just listen to some vinyl systems and some digital systems. Some people don’t care that much. If you do prefer the vinyl set up and are willing the extra effort than it’s a good choice. Asking us is quite irrelevant. For me vinyl is a no brainer. For others they feel their digital is good enough. So it’s obviously a better choice for them. 
As far as the comments “the best digital is compatible to the best analog. Who cares, I’d care more about enjoying all my music collection. And this is accomplished more with analog for myself. And I accept other find different. 
teo audio

All sound studios record almost everything digitally today.  95% of the analog you think you are listening to has already been a to deed once at the microphone and dee to aed again onto the vinyl.   So even in the best analog system you have, you are already listening to digital, twice converted.  It is 21 st century guys. There are virtually no analog recording studios left anywhere. 
@cakyol     

Not true if you listen to vintage vinyl or reissues kept in analog,  or the modern audiophile recordings done on tape. This does narrow down the listening options but many of us choose these recordings almost exclusively.
@twoleftears 

Usually the car that goes around corners better will out perform acceleration. Driver dependent of coarse
Adding my 2 cents, vinyl setup *requires* a cleaning regimen to have even satisfactory sound. It’s a pain-in-the-rear, but without cleaning records they are noisy as hell. I enjoy my dads vinyl, and it has its moments, but CDs are far and away more consistently pleasing and satisfying. 
If you want to choose one or the other, my vote would be to spend your $700 on a Chord DAC. You’ll find *much* more of that Liquidy *analogue* sound that is so pleasing.