Tim
If the dm101 is more than you can spend, a Thorens TD160 is a good bet at under £150.
Plenty of room for a new cartridge if you need one, and a phono stage then.
Here's the sort of thing: http://cgi.ebay.co.uk/Thorens-TD160B-MK2-Rega-RB-300_W0QQitemZ5833154921QQcategoryZ3283QQrdZ1QQcmdZViewItem
Rega also made some great phono stages that you should get used for circa £100.
The valve'd Project phono stage is supposed to be ok (but I havent heard this one myself).
TBH a: "Graham Slee 2, Denon 103 cart, Thorens TD160 with Rega 300 arm "..
is about as good as you will see for £300 all in.
I dont remember the dm101 (think I heard one a long time ago), but if Lee and Zanash say its excellent - Im sure they are right.