Reuben, I do appreciate your advice and want to let you know that at this point I am jumping (which you have rightly pointed out) to get more upgrade suggestions rather than doing the actual upgrades. Out of around 10 suggestions that I got so far (thanks to all of your suggestions over such a short time), I have eliminated the ones that are risky and not easily do-able (like replacing RCAs, replacing stock cable, replacing rubber feets, replacing rubber mat, etc) and only going forward with the those that seem less risky (WD-40, Cart, Headshell, cleaning liquids) and of course less costly (opted for battery powered CNC instead of the one with additional power supply). Raghu (he is building CNC for me) is aware of how afraid I was to even replace the cart, thanks to his telephonic advices.
At this point, the CNC will not arrive until this weekend and the cart will not arrive until the next week so the TT is just an equipment with a moving platter. So would prefer to do some easy upgrades (than purposefully not doing it) in areas that does not provide me confidence hoping that those will possibly elevate the starting point. Starting point is something I already have with my existing TTs where the negative difference with my high-res digital music chain is noticeable. Whether my ears will be able to differentiate between the digital and revamped analogue setup I still do not know but hope is something on which the whole world is moving ?
Please do not stop giving the wonderful suggestions and let me learn in the process