New TT or old

I faced a similar situation several years back, when I had my old B&O turntable. I recommend selling the B&O TT on Ebay for whatever you can, and then moving on up into something easy to use, like a Rega P3 or something similar. (Don't forget that if you are getting back into vinyl, that you'll need a decent phono preamp, as well as all the cleaning supplies.)

IMHO, The B&O turntables were fine at what they were, which was a top of the line, mid-fi table. (The best thing about them was their cartridges were well enough made and had a light enough VTF, that all of my old records sounded great when I upgraded to a Basis 1400.

Good Luck!

A record cleaning machine would make the most positive impact at this point.

Sell the B&O and scrape all the money together you can. Then buy a new (secondhand) recordplayer and cartridge, and spend some money, as Dean suggests, on a record cleaner.

In case you're not aware, the B&O cartridges are significantly better than the tables were and have garnered quite a following. They are only available now through an arrangement with Soundsmith, unless you luck into a NOS(new old stock) one. The sensible route would be to move to another table that affords more options but this adventure you've embarked on isn't necessarily about sense, although if you're not careful it can be about cents.

Another thought:

Turntable technology, at its best, has definitely evolved since the vintage of your gear. At the affordable end, though, you may still do better with an older design (at used prices). However, if you are willing and able to spend the money, you can do much better with new designs which are constantly raising the bar on both quality and price. Ditto re: cartridges. There are some very interesting evolutions available to us at this point on both fronts.