The "standard" colors are green, blue/green and lately more bluish hues. If you like how your cloth plays, no reason to spend $300 to get it replaced. Wait till it's worn out and then look for other colors if you like.
Tan also works well, I heard at least one pro talk about how he liked the tan color cloth used on the Camel tour. That's about it really for a "player's" table. Many people that buy a table as a recreation thing, something to do when the TV is broken, get red for some reason. Or black. Seems many cloth colors are there because they match the decorations in the room, not for playability.
Also, you should get new racks, from the pictures it looks like you have one of the crappy ones that don't have enough space behind the balls for your fingers and are also shaped poorly to give a good rack.
Magic Rack is great, but you should also keep a regular quality rack around.