[Formerly YB-2]

Hi Pete - your choice of the VPI Prime Scout is a good one. Many positive reviews and happy owners. The thought of a good used TT/TA is also a good one. Keep an eye on the classifieds here. There was a VPI ScoutMaster available not long ago.

The PH-3 is an 'oldie, but a goodie' preamp. Uses my favorite small-signal tube (6922). With 54db of gain, you are limited to ~0.25mV output cartridges. But, that includes almost all MM cartridges and many excellent MC cartridges. A couple of very nice (says the guy who has both) MM cartridges that play well on my VPI rig are the Ortofon 2M Black and the AT150MLX. They both have lots of output (~4.0mV) have MSRP of ~$700 & $375. If you want to go with an MC cartridge, in a similar price range are the AT33EV, Hana ML & SL and lots of others. Just insure the output of any MC is 0.25mV or higher.
For my money, doubling the $$ spent on a cartridge makes a significance in performance with MC cartridges, where there are many more choices. Once you set a budget for your cartridge, it would be easier to recommend something, as the sky is the limit in cost.

One thing you haven't mentioned is a good LP cleaning system. Cleanliness is next to godliness with vinyl. They range in price for ~$100 for a good manual Spin Clean system to $4K+ for a TOTL Audio Desk ultra-sonic cleaner.