What is the level of LP12 that would beat a rega? It seems that the rega’s are a lot cheaper for what you get. Also, what level of amplification/streaming source (by naim) would be of an appropriate level?
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I would turn the question around to what is your budget and moreover what is your journey plan? there are so many options on LP12 and therefore ££££ to spend - yes there is 3 main decks in thier off the shelf list but this does not even come close to the Vari options
same for NAIM you could go Seperates of SN?
for me in 20 years of LP12 ownership the great advantage of Lp12 is not only the music but the combinations you can have from the deck - my best advice is to work on bearing, PSU, sub chassis Arm and Cartridge
source first has always worked for me with a balance in your system - My LP12 is Kilmax level but I certainly did not start there - best advice is to speak with a dealer who can advise on LP12 and Rega
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I agree with @Antz, as a long time LP12 owner, I see the benefit of the LP12 over a Rega is that you can start off with a cheapish secondhand LP12 and upgrade it as funds allow. I got mine secondhand from speaker company that had been using it in shows in 81 with a Syrinx PU2 arm and Azak, the then state of the art. Since then it has had many changes and whilst it is not top of the range anymore, it still sounds great. Definitely a good buy. You can pick up a decent LP12 for a very reasonable price on a well-known auction site and then upgrade as funds allow. Or if you can afford it buy a new entry or mid-level LP12 and upgrade as and when.
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“beat a Rega”
Well, a P1 or a P10?
An impossible question to answer really, givern all the different ways to go.
Also quite different turntables as well, the linn is old school and has so many options to take it higher, or should i say more up to date for todays sound and market, whereas the rega is a buy it and thats it, and if you want better then you have to sell it and get the better one.
If you take the P10 then that offers fantastic performance for the money, its fast, great detail and a very modern light weigh design, the linn is from a very different design and the lower specification ones, certainly sound very different to the P10.
I can see the appeal of the linn, but it would certainly cost more than double to get to the same performance point as the P10, then as for sound, then again thats a different question that only yourself can answer, as they will be different sounding.
The linn is like a Porsche 911, its had upgrade after upgrade over decades and got more and more expensive, plus it needs a bit of attention now and again, the rega’s is plug and play, more so
I tried a P10 at home for a bit. In some ways, a Valhalla/Ittok deck is superior and in others the P10 will beat a Klimax LP12. So, depends what’s more important to you.
One at the same price point eg a majik lp12 and rp10 (external phono) or akurate lp12 and rp10/rega aura.
Yes, I was just pointing out that the OP’s question, as stated, cannot be answered
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At similar price level, I would not take a lot of risks to say that the Rega is globally better.
A rega P8 , less costly than an Lp12 majik, is easily better. IMHO of course.
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If you are looking at NEW witj Karsouel bearing and krane YES but still have majik power supply
which you will need to upgrade before you go any further
Ackrute level - YES but an LP12 specialist can get you to that level for less money
unless you are 100% sure I would avoid anything off that web site
The Rega Tonearm thread is highlighting a different way to balance the tonearm than the spring. It seems the spring could affect/damp the dynamics a bit.
Phil
I’ve heard a LP12 which sounded downright stunning excellent
I’ve heard a LP12 sounded terrible.
Not really possible to state level of these LP12, they looked almost identical.
Rega P1 or P?
Any Naim amp will work fine.
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They are quite different, although I’ve not heard the Majik with Krane tonearm but it’s not gonna be all that different to the previous version with Karousel.
Can you organise a dem when things get better?
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Anyone else struggling with appearance of the Krane tonearm?
I thought it might grow on me but I think the opposite is happening!
No one has mentioned looks here; I love the way the LP12 looks with my CB Naim amps. The Rega decks look to modern for my eyes.
Sound wise, I think my LP12/Herc2/Ittok performs as well as the P6 I demoed but not as well as the P8. The LP12 is more sensitive to movement in the room and can pick up more static, thus requiring a little more record prep.
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None.
Any. 
It’s all taste isn’t it, or at least should be I suppose, I was never a fan of the early LP12s, whilst undoubtedly very very good they just missed the mark for me whereas (back in the early 80s) the Logic DM101 and the Pink Triangle had the edge for me contrary the the rest of the world at the time. Post Keel my view has changed and it has become something I would be happy to put in my system (I think). Regas and Linns will sound different and depending on spec neither will be better than the other, just different depending on your taste. As @Faux75 says above, a P6 is maybe similar to an earlyish LP12. the P8/P10 something comparable to later iterations but the only person who can say which is better is you.
as always: it depends.
The LP12 needs care in setting up, this might sometimes be too much for the owner. But if you go that route, there are many years to come with fun and happiness and if there is something better and you have money to spare, go an get an upgrade.
Rega doesn‘t work that way. Buy one and be happy. There are some tweaks, but not nearly as massive, than with the LP12. The minimum to meet a Linn is a P8 with the Apheta3 in my opinion.
Take it with a grain of salt. 
In my honest opinion no rega can beat a linn because they are two totally different beasts in the way they are designed and made and most off all materials that go to make them