I still rather like the supplied arm, especially if it's the mk2 version with balls for counterweight and tracking force. Just carefully lubricate the horizontal sleeve bearing and carefully adjust the vertical ones for minimal play and low friction (a bit tricky this to get both aspects correct). properly fettled and with fresh exit cabling to the amp, it should be good for 1.5 - 2g trackers like the Shure M97XE, AT120E, Denon DL110 and Sumiko Blue Point, as well as favourites like the Ortofon 2M series under £200. Going beyond this may well tax the abilities of the turntable itself in all honesty unless it's substantially re-plinthed and fitted with a Wave-Mechanic type of power supply/fine speed adjuster.
As for other arms, the Rega RB series matches the suspension well, although I suspect the Jelco 750 series may be too heavy for it. The cheaper Jelco straight arm may be better suited though. The Alphason arms are expensive now but very good and not too heavy. The R200 arm can now have the bias belt replaced and a re-wire works wonders. Ask Johnnie at Audio Origami.
Apologies if you think I'm being a bit negative here. The TD150 is over forty years old (replaced by the 160 in 1972 IIRC) and, although it shares a huge amount of basic DNA with the Ariston RD11/Linn LP12, it wasn't as substantially made as these latter decks. The stock arm may look a dogs dinner, but it's not as bad as you'd think - honestly
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