H is a good reproducer to play them back with, a good rebuilt original, with good stylus. Use a large horn, morning glory, or better a long concert horn, I used a 5' brass concert horn for this purpose, and I use an M audio usb studio condenser microphone,placed about 3' away from the horn opening. With acoustical machines, you have to do some microphone placement experiments (I would suggest doing the experiments with something other than the wax amberols) to set up, and then change over to the 4m gearing and H reproducer. I have included a video of recording and acoustical phonograph with the M audio microphone.
http://youtu.be/uPUsxSY_AbY sometimes around where you are transcribing it is best to place some blankets like a box around where you are miking the horn, to reduce room resonance. The package can be had for the same price as the I rig, and much better specs, I have two and I love them.
http://www.ebay.com/itm/M-Audio-Vocal-R ... 3f32ce855f