I have the Audio Technica AT-PL120 and IMO it's a great turntable. There is one thing that I would reccomend changing on it though, the cartridge. The ATP-2 cartridge which is included with the AT-PL120 is a good cartridge, but it's not the greatest though. I use a
Shure M97xE instead. It's not cheap, but you won't regret getting it. But you can't reverse the record with that cartridge, you will damage the stylus and the record if you do.
The AT-PL120 will work with your receiver as long as your receiver has RCA inputs. The AT-PL120 also has a built in phono preamp which can be turned off. If your receiver has a phono input, I would turn off the preamp on the turntable and use the phono input on your receiver, but most receivers don't have a phono input anymore.
I personally prefer vinyl over CD's or any other digital format. I like the "analog warmth," and I can't imagine using CD's as my main format ever again.
You also have to take care of your records, unfortunatly vinyl is much more likely to get damaged then a CD. But as long as you keep them in their sleeves when not in use, you'll be fine. Also, you should clean your records after every use (I clean them once a week) because oils and dust can be very damaging to records.
I use this to clean my records. You should put your records in record bags so the jacket doesn't get damaged, and they also keep dust out of the jacket. You can get record bags
here. Some record shops also sell them, which brings me to my next point.
Find a good record shop. I have found a few record shops around me, and there is one that I just absolutely love. I've been going there for a few months now, and the guy who owns it has learned my music tastes, and he recommends an album for me every time I walk in. Hopefully you can find a record shop around you, because most are wonderful places. Before you buy a record, always ask them to play it play it for you. have them play part of each side, and any tracks that look like they might be damaged.
I hope I was able to be of some help! Enjoy your record collection.
EDIT: Some have said that a belt drive turntable would be better for home use, and that you'll hear motor noise with a direct drive turntable. I'm going to disagree with those statements. I never hear any noise coming from my AT-PL120. Also, eventually the belt on a belt drive turntable will stretch, also the belt may slip. One disadvantage to direct drive turntables is vibration, but most new direct drive turntables have some form of vibration reduction, I for one have not had an issue with vibration on my AT-PL120. I see no need for you to go out and spend extra money on a belt driven turntable.
Don