best cartridge for my system

Stick with the Rega cart you have for a while then move up to the Exact. Don't "f" around with other brands. Rega works great with Rega and the geometry is correct!

Your cartridge is matched just fine with your turntable. Your amps & preamp are more of a limiting factor to moving upwards in sound quality than your phono rig. I'm not intending to be rude. I'm just speaking from my own experience having starting with similar pieces.

Thanks to both of you (Lindisfarne-Photon). I'm stuck with the amps for a while due to money. Preamp I may be able to do something about.

I too would start with a new preamp. Everybody has different opinions about prioritizing these things, but I really have found the "voice" of the preamp to be critical in achieving the sort of sound I like.

My P3-24 is sounding wonderful with my Exact 2.
There's something special about Rega cartridge with Rega arm with Rega table. It all seems to work really well together. Let your Elys settle in, and it should sound fine. Later on, consider moving up to the Exact.
Good Luck, and Happy Listening.

agree that your budget ss equipment is nice for what it is, but is likely the limiting factor. Upgrade the preamp first.

Keep your Rega cartridge. If vinyl is your passion, a Bottlehead Seduction should be on your shopping list. Phono peamps play a more important role than you'd think. The Seduction is a well regarded tube design that will add a midrange realism, sense of warmth and three dimensionality lacking in your NAD. Seductions come up in the classifieds from time to time, but the kit can be purchased new for $294. It isn't hard to build and you'll learn a lot along the way. Search the archives and you'll find lots of glowing owner comments. Actually, come to think of it, I don't think I've ever read anything negative about it. I've experimented with lots of budget phono stages and the Seduction stands out as the best in it's price class. For what it's worth...

Ok, good advice. I have been reading reviews of the Bottlehead and it looks good. I don't think I would have trouble building it as I built a Hafler Preamp years ago and it was a lot of fun. I've also been looking at preamps (TAD 150 signature, etc) so I'm not sure which way I will go. But, for now, I'm staying with my relatively stock rega p3-24 and Elys and trying to upgrade at the preamp.