Can the C2300 MC phono run a cartridge 0.5MV

Actually, 0.5 mV is a bit above the rated sensitivity of 0.45 mV, so there's more than enough gain.  It shouldn't be a problem, but you might have to fool around with the loading to get the sound right.  Good luck & happy listening.

Great

Thanks

Using a vpi classic 2 with the 10.5 arm and 7b3

Will also be nice to play with the VTA