Except I have found that the phono stage is probably the single most important component in the analog chain. I would spend big money on an amazing phono preamp before I would going from a good to amazing turntable, arm or cartridge. It simply makes such a huge difference. I have heard awesome TTs (one of the big three motor magnetic drive Transrotors) with a great arm (SME V) and super duper cartridge (Transfiguration Proteus) ruined by mediocre phonostage. It actually made the analog sound worse than the digital. Hook up a good phonostage and that system sings but the owner hasn't taken the plunge to get what is really needed.
You would be better off with an IO (whatever the level of mods) and a mediocre rest of the chain than a great chain and a mediocre phonostage.
Yeah - I think that is good advice. My Io was utterly transformative!