Scout vs. P5

Both good choices.

Personally, I want to be able to adjust azimuth (ie. tilt of the cartridge and arm) and VTA. You can't do this with a Rega.

My only concern is at the current moment, a VPI scout w/ dynavector 10x5 would be "too much table" for my system. Would I be able to reap the benefits given my current set up?

That said, I am using this opportunity to begin assembling my first quality hi-fi set up and would like to begin with the TT.....

Voodoochild
The most important piece of gear is the front end.It's just like picking a woman out.The rear might look good, but the view from the front is seen by you more often.

Would you be able to reap the benefits given your current set up? You would reap benefits....however, the benefits could keep on reaping as you upgrade the rest of your system, as you seem to suggest when you say "That said, I am using this opportunity to begin assembling my first quality hi-fi set up and would like to begin with the TT.....". The operative phrase here is "begin with the TT". The initial TT upgrade will begin reaping benefits right away, you'll reap even more as you continue to upgrade your system.

FWIW, I've always found Dynavector and Lyra's to be a natural mates for VPI table/arm combo's.

Cheers,
John