Recommendation for analog set for $700

It's important to have a good cartridge/tonearm match or you won't get the most each is capable of. Personally, I would buy a Rega MM cart, install it using Rega's 3-point mounting system and forget it for a few years. They're fine carts and require no setup in Rega arms.

I would go for the Music Hall MMF5.1 that Questforsound has up for $695. You will get a warranty and dealer support, that you definitely need unless you're really experienced with turntables. It comes ready to go with a cartridge and dustcover and sounds very good. I would not fool around with an Oracle or anything that needs professional setup, unless you are experienced with that sort of thing. For a phono preamp, Questforsound carries the Music Hall for like $175 and I'm sure they have others in the under-$200 range. Enjoy.

I think you're starting to slide down that slipperly slope of "is this better than that". Right now, you have zero frame of reference for analog. As I said above, as you are just starting out, I would avoid anything that requires a lot of analog knowledge, such as a vintage tt or one that requires professional setup. Out of your two choices, I would chose the Rega and just listen to it for a couple of years. You will then have a fixed reference in your mind from which you can judge the superiority, or lack therof, of any other tables you may choose to audition. With an old tt, you will spend half your time posting questions on how to adjust whatever and wondering if it's right. That's exactly what analog shouldn't be. I know one guy that had to get rid of his very nice tt because he lived in the constant state of anxiety of whether it was set up correctly. Get a nice new tt, set it up and then sit back and enjoy. At least that's what I think.