On listening to the VM540ML further:
It's quite good for the money. The tracking, in particular, is noteworthy, regardless of price.
But I wouldn't call it uncolored.
There is an octave-wide emphasis above 7-8 kHz that is noticeable, not because it is peaky and high, but because it is broad. It's reported in
the review and it's pretty obvious when you swap from another cartridge.
It's not so high as to render things "airy", nor low and sharp enough to be "bright", but it does call more attention to snare and cymbals, adding sizzle, and upper brass instrument timbres.
It might get totally out of control in a bright room or with bright speakers, but in a dull room it might actually be pleasant.
Me? I have tile floors...but soft dome tweeters.
A broad shelf EQ / PEQ could tame it pretty easily, I would think.
The Nagaoka MP-500 also has a broad treble uplift, too, but it's starts a little lower, rolls off a little earlier, and seems a hair lower in magnitude. It sounds a little plumper in the bass* than the VM540ML*, which overall makes it seem a little more mellow in comparison.
*with my headshell and my arm