hi anm, stevieboy, nirrej
the project rpm 1 genie can be upgraded with the 2M red cartridge and you may add the project phonobox separately. both of these upgrades will improve the performance of the turntable substantially.
its not worth thinking about upgrading the arm, better to go for a higher end turntable like the xpression 3 or the xperience superpack.
the genie2 cannot play 78 rpms, using adaptor for this purpose is a tedious job because you need to remove the belt and the existing adaptor every time you change between record speed. the genie2 comes with an adaptor which can be used for both 33 and 45 rpms. i think this is a small drawback considering the price you are paying for the genie. and also the fact that most of the records are 33 rpms as indicated by stevieboy.
dust covers are expensive, so one can be fabricated very easily using acrylic sheets which are widely available. they just need to be glued at right angles to form sort of a box.
regarding the prices, i have responded to anm's pm.
forum friends staying in bangalore can come over for an audition. people love the genie2 for its sound and looks at the price.
regards,
abhishek.