Although eBay is somewhat derided - (and, if I weren't in the sticks,
wouldn't necessarily be my first choice - also there's the tenner+
delivery to factor in) it's quite possible to get Stunning HiFi for
almost nothing.
The LP playback side is rather expensive, I grant, but last night was
listening to one of my systems (1983 Linn Sondek cost 160 inc
arm/cartridge - not eBay)
+ 100% New absolutely Audiophile (1982) JVC A-X5 amp- 70w+/ch - almost
400quid new - 31quid / JVC T-X900L tuner 300 new - for 25 - JVC KD-A5
cassette - 100% new - 14quid - nearly 500quid in 1980..Cambridge R50
speakers (weigh almost a cwt each..) - excellent condition/mint drive
units (new Ribbon Tweeters) 190quid in 1973 - cost me 50, all in
(could've got 'em for 30...).
You'd have to pay a small fortune 'new' for gear of that quality now
(JVC could be top quality those days - hardly saleable on eBay
though..)
My most recent cassette deck was a mint 1985 Akai GX-R88 - 25 quid -
450quid machine. The accompanying manual/huge service manual was almost
worth what I paid !

Personally, I'd look around for a Direct Drive TT (the only 'type' I
don't have) - but not the cheapie stuff...however, the state of the LPs
is a factor - as you mention.
MiniDisc is my favourite - and, yep, I've got the 'best' Sony ES decks
for peanuts - even the discs can turn up dirt-cheapie - ie; new/sealed
MD80s - recently bought over 100 for 25quid - *inc p/p*...