According to the Vinyl Engine database that unit cost $350 in 1975, that's $1,500 today. I'd say that's a great deal in working condition. Some of the commentary I've read indicates there may be issues with speed stability. With the table being 40 years old there may be issues with components out of spec, bad capacitors, etc.
Any medium compliance cartridge should work well with the arm. Shure M97, AT 120e, Ortofon Blue, etc...