Upgrade from Rega P5

At 4-$5K you should have plenty to choose from. If you insist on new, a VPI Classic would be hard to beat. If you are looking for value (if not, you should be) consider a used higher end table here on Audiogon. You can find tables, with arms, that sold originally for $10K. I've seen a newer Goldmund Studio, with T3 arm, for around your budget range. Believe me, some vintage tables are real bargains and you will be the beneficiary. If you find one for less that you like, spend the rest on a great cartridge.

Thank You. I've considered that option. So much to research.

Have a look at the Linn Majik LP12 for an upgrade within your price range.

Once you own the Majik LP12, there's a number of upgrades you can add (over time) to get to a fully loaded Linn Sondek LP12.

Linn Majik LP12:
http://www.linn.co.uk/systems/products/lp12/majik-lp12

If your happy with the Rega P5 give the flagship Rega P9 consideration. It's no exotic beauty queen but many prefer it over tables at the $10k price point.