The 'magic' of vinyl, if you will, is surely not due to dynamic range, signal-to-noise figures, tracking distortion, convenience or stereo separation. If meaningful measurements were the only doorway to better sonics....surely, everyone would be listening exclusively to CD.
Despite these inferior specs, the old record just captures more of the lifelike ability to portray music honestly. The debate on this thing goes back and forth - but I really think it just boils down to that 44,100 samples per second is not sufficient to capture music sequentially. It sounds false because you hear those gaps...and can't fill in the blanks in your mind. All the efforts towards reduced jitter, higher playback sampling rates, move to hard drive as source - can't overcome the basic shortcoming....not enough sequentially recorded music on the master to begin with. As you move up the frequency scale into the higher ranges - what's lacking is most noticeable. So, the worst CD performance will be in the treble range.
Vinyl, beset by it's own set of issues, has more lifelike performance due mostly to it's superior treble Using a cartridge like the Shure M97XE, without a hope of flat even performance out to 20khz - you don't have a prayer of enjoying the one area of performance that vinyl excels at relative to CD.
A cartridge needs to have relatively flat frequency response out to 20khz....or better, if possible in the cartridge design, as you can feel musical cues out further than that. Probably a cartridge that has meaningful output out to 40khz is in many ways, a winner. Most, but not all MM/MI's cannot, but most moving coils can. But, using the Shure - you don't even get the basics right.
At under $100, the AT440MLa or one of several Grado's seems to be the ticket. The Grado's, due to lower inductance, will have more extended treble response into the ultrasonic range over the AT. But, there are other issues to consider, too.