Should I upgrade my phono linestage first or the tonearm for better results?

Hello all,

I am wondering if I would get more out of an upgrade to my current tonearm, the Graham 2.0, or should I switch out the phono stage AcousTech Ph1P? I am guessing about the same money either way, budget around $2500 for the upgrade. I would be looking to purchase used equipment on this.

Related components:

Clearaudio Virtuoso 2 cartridge

BAT VK 31SE preamp

Krell KSA 250 amplifier

Aerial 10T speakers

Graham IC70 tonearm cable

Transparent reference interconnects

Transparent Ultra MM bi-wire speaker cables

Thank you in advance!!