Upgrade from Rega Elys 2

WillieWonka - those are some tempting upgrades. After talking with my dealer (I live across the country from the folks I've been using but they've been stellar), I'm going to get the TT up and on the wall with a wall bracket / shelf, obtain an after-market cork or other mat (the felt is a freaking dust and static charge magnet), do some more isolation of the other equipment, think about power cable upgrades (TT and amp) and then look at either a new cartridge and/or tonearm set-up. I'm just getting into the mid-fi game and have kids to put through college, so although there's a lot of room to improve, the steps will have to be small / incremental. 

Could just buy a good TT to start with .

ericsch,
    I would only be sure about the 2M series. I shimmed my 303 arm with these little plumbing washers; even tested them with a micrometer to see if they had tight tolerances, which indeed they did to at least a ten-thousandth on an inch. I also sent my arm to Brit Audio and had the wiring upgraded. It was a great combo.

My thinking exactly. Upgrade the table and then move from there. Cartridge is the least important element, within reason, of table/arm/cartridge/phono set-up. I use $375 ( from the UK ) Goldring 1042 MM cartridge with Nottingham Spacedeck/Spacearm table and AcousTech phono and feel no need to upgrade the cartridge. I would upgrade the phono with a great tube unit if I could, though the AcousTech is very good.

As the P3 is brand new, I can't justify a complete replacement at the moment. The suggestions, however, are duly noted inna and schubert.