Well things havn't changed so much over the years - nor have the differing opinions!!!
The least "perfect" items in the chain are the speakers and the cartridge - the transducers....
Minor mechanical variations in these can have very substantial impacts on the sound..
A speaker that can achieve a real life frequency response flat within +/-10db is an exceptional beast...
Many high end speakers have trouble achieving +/-20db across the audible range (and I am not even worrying too much about sub 40Hz - good article on this topic at
http://www.regonaudio.com/Audio in Modern Times.pdf)
So even if the table is constraining the level of performance achievable by the cartridge - the cartridge is (IMO) the first port of call.
As a starting point a decent turntable must provide:
1) Stable speed platter, no bearing noise/rumble (or below audible ... say -70db)
2) Tonearm with good bearings and no bearing noise
3) Good isolation from external vibrations, and damping of internal vibrations
If you have all the above (and these are achieved very well by a huge number of vintage turntables available cheaply).... then the next step is to get a cartridge that properly matches the arm you have.
If starting with nothing - ie no TT and no Cartridge, I would set some selection criteria to help.... Direct Drive/Belt Drive, Suspended/Solid, Low/Mid/High Mass arm etc...
but you most certainly can find a TT that meets these three criteria at under $50... course if you add a particular aesthetic appearance, and other criteria, either the price will start to rise, or the time required to find one will increase substantially - but if sound quality is your only criteria, this is EASY.
Once you have those three criteria met, a budget of between $30 and $200 will get you an excellent cartridge or replacement stylus - and performance will be good.
How Good? - well that is a completely different question....
Along with whether the "flavour" of "goodness" suits you!
(what is better... a large SUV or a 2 door sportscar.... they both handle very well those tasks that are their respective strengths....)
bye for now
David