Hi Brian
I didn't want to participate in or create a p... contest with my first post , just wanted to give you my opinion after refurbishing 8 Ariston RD40 already . I'm not a theoretical guy but more a practical guy who believes in things that he has heard with his own ears . Since I was cruzified about the spring replacement issue , I'm still waiting on recommendations from the experts , where to get them or how to restore worn out ones ,

??
Your table doesn't look that bad. A bit polishing on the Aluminium parts , a good oil in the bearing , a new cartridge , new springs (again !!!???) , that's it for the first step and that is something that's affordable too.
After this you can consider a new arm or something like this
http://www.turntable-power-supply.com/range.htmbut it is expensive and you have to make your own decision if it is worth it or not ?
A big improvement is a proper cleaning and a oil refill in the bearing
If you need material for cleaning and oil you can contact Joel in Germany (he worked 20+ years in R&D for Thorens but also knows Ariston ) and tell him that you just need the cleaning solution and the oil . His stuff is and works great and prices are fair too , no snake oil , just great working stuff. See his Ebay offerings for Thorens
http://www.ebay.com/itm/JOEL-S-KIT-THORENS-TD-150-160-145-125-126-166-320-/290675442763?pt=Vintage_Electronics_R2&hash=item43ad9b444b#ht_591wt_1344I put Dynamat inside the platter to get rid of the ringing and also to add weight for the , ohh no again

, for the Linn springs , sorry !
I have a Jelco Arm on one Ariston and a Rauna Opus Cantus 3 arm

on the other Ariston. I have tried different linear arms from Clearaudio , Eminent and a DIY one on the Ariston , but not one worked satisfiable. Most linear tracking arms where too heavy on the Ariston where the spring loaded platter was shifting when the arm was moving on the table especially the ones with air supply. I found this Opus Cantus arm 3 years ago and it worked great on my Ariston because it is so simple and lightweight . There are not many Cantus arms available and sadly Bo Hansson the inventor from this great and totally underrated arm passed away a year ago .
My recommendation would be to stay with a standard pivoted arm when you want to replace the Ariston arm .
A Rega 250 or 300 works great and is all you really need on this table. I would spend more money on a better cartridge , depending on your other gear and music taste .
Regarding the feet or spikes ? The original feet also work as a screw thread for the spring suspension of the table. So replacing them will afford some DIY or you just make something to cover the old feet ?
At the end , the Ariston RD40 is worth the effort and will provide you a lot of fun .
Juergen
PS: btw. both tables where perfectly aligned with Wayners great working CAT Two Cartridge Alignment tool

and both have the Linn spring upgrade