I am in almost exactly the same boat. I have about $400 into a Thorens TD-165 with the original arm, and I used a AT VM540ML on it for a while. Over the past 2 years since I got the Thorens and got it working properly, I have had the opportunity to buy several high quality competitors including a Linn LP-12. In the end, each time I have doubled down on the Thorens. I put Blue Jean cables on it as captive and found they were a good upgrade from the original cables (which were in admittedly POOR condition). I also damped a few parts of the plinth, polished the spindle bearing nicely with a little home-brew technique, got a new belt, and eventually spent the dough to put a Denon DL-103 on it and employ a quality step-up. THAT was well worth it.
As long as your 165 has the original arm, I would say save your money and get a DL-103 and a nice step-up/headamp and see how you like that. You may be very pleasantly surprised, and in the worst case, you'll have some easily re-sellable equipment (the cartridge and step-up) vs having to deal with the possibility (probability) of taking a loss because full turntables are difficult and potentially dangerous to ship when sold on the used market.