Thorens TD 125 vs. new cheap TT?


I got hold of an old TD 125 with a (probably equally old) Shure v15 mkII cart. It works, but even my newbie knowledge level can tell that it needs serious servicing. Is this a good turntable worth hanging onto? My budget is very limited, so a new tt would have to be in the $300 range.

If I should hang onto the Thorens, could anyone recommend a good, inexpensive phono preamp and cartridge to go with it?

Thanks for any ideas.
nacnud
Satch--sorry for the late response. I've been trying to replace the original Thorens arm, which is in bad shape. I've just found an almost-new Rega 250 to go with it....
No prob. Could you tell if it works out? I have a Thorens 125 as well, with a SME 3009 arm attached, but the bearings on the SME are loose, so I'm thinking about replacing it with a Rega RB300 or something similar. I'm just not sure if that's a good combination, so any knowledge would be appreciated.....
Hi, I have a TD-125/II. About a year ago, I installed an Origin Live 250 in place of the stock Thorens arm. In my system, and to my ears (and some friends' ears), the difference was minimal (I also recorded various LP tracks with each setup onto CD-R and heard little to no difference listening to these discs). If you google the 125, you'll find that many people consider the TP-16 tonearm its weak point, while others consider the TP-16 underrated. I am, to my surprise, in the latter camp. I think the OL-250 is a far superior arm than the TP-16, but perhaps not in this particular application.

Joshua