$500 in the US and even £500 in the UK, isn't going to get you much in the way of new product really. ProJects here at this level look good, but in my opinion can't hold a candle to the evergreen current model Rega 3 which has a FAR better tonearm (arguably amongst the best in the business despite lack of adjustments the company feels are largely unnecessary in the real world) and these days, a stable lower noise drive.
I've not tried one here, but the Technics SL100C keeps drawing my attention with it's direct drive motor seemingly derived from similar ideas in my beloved old Dual 701 with Pabst made EDS1000 motor. Here, it comes with a crude nail of a VM95C, the stylus of which easily upgraded to a VM95 ML or more 'subtle up top,' the 95SH.
I have a back-up knowledge of good used buys if ever I needed to replace the old Dual, but for new decks but it's a total minefield now, but for new, the MINIMUM I'd go for is a Rega 6 (massier platter and external Neo supply which allows speed tuning, especially when the better Rega belts are used which usually increase the speed) or perhaps the Technics 1200G, which I think is more substantially made from what I gather and which may have a price advantage 'over the pond' from us (I'm no longer in the thick of it now sadly so no hope of a hands on play).
Vinyl reproduction is a mechanical thing and to get accurate reading of what's actually in the grooves needs precision engineering and great care in isolating the playback machine from its surroundings in terms of structural borne vibrations getting through and also air borne vibrations from the speakers. The new decks I mention above DEMAND careful isolation and just plonking them down on a cabinet top simply isn't ideal at all!!! To do it seriously right means spending shedloads of dosh if the reproduction is to be lifted from a nice but mid-Fi quality of reproduction.
Remember please that the cartridge 'sound quality' is dependent on the deck and tonearm it's fitted to (the evergreen AT95E of old could appear almost transformed when fitted to a decent platform priced way over it's humble level). Getting all this right will help cheaper phono stages to work better as well as again, they're only as good as what they're sent and cheaper stages don't have the high overload margins for example that more capable models have...