I have only heard the Project Debut Pro S and compared it to the Rag P2 with the Elys. I am not a fan of the Rega P2. It sounded anemic to me and the Elys grated on my nerves. I much preferred the Project to the Rega. If going Rega I think you need to go to the P3 to compete with the Project. I ended up going with a Music Hall Stealth but the Debut Pro S was very close. Good Luck in your search!
