Hello Dr Pan
Well, let's put it this way (no doubt wiser counsel will also contribute) - I played a succession of good MM cartridges on the 301 for years and was quite happy.
In those years I had regular Italian friends quite often at my home and they were all very experienced vinylists. Between them, they used Linn, TD124 and Micro Seiki turntables and all of them used similar, good quality MM and MI cartridges like AT, AKG and Grace.
One day, I acquired an almost new Supex SD900 Super and a Nagatron HA-9000 step up device.
A few days later, we arranged another get-together and the difference and comments from my friends were most favourable and enthusiastic - in fact our musicmaking went on until 5am.
I'm not trying to indicate MM or MC as both have merits. I would say first decide if you want MM, MC or MI and then match the compliance of your cartridge choice to the arm which suits your budget.
Garrards are not fussy and a wide variety of arms will work. Right now, I have three 301's set up. One uses a spindly Grace 727, another an EMT arm and the 3rd has a Micro arm fitted.
"If you don't like my principles, I have others" - Groucho Marx