Ironically, although SM in Shure's iconic mic range stands for Studio Microphone, the SM58 is much more a stage mic than a good studio beast. Visit Abbey Road studios - you'll find Neumanns, AKGs and the like by the score, a handful of SM57s (they're great for snare drums, electric insrument cabs, and getting a certain "retro" feel on voice and sax). You'll only find about ONE SM58 in the entire place (and remember Abbey Road Studio 1 is still the largest commercial recording studio in the world (yes, I know BBC Radio has a larger orchestral studio just down the road...)).
So, mainstream dynamic mic for this sort of work, I'd go for the SM57, or look at models by AKG and Sennheiser.
But, for true-to-original sound recording at $100-150, why not go for a good condenser mic (assuming you have a mic input that will support phantom power)? The large diaphragm sE-X1
from sE Electronics
is a stunning vocal and general-purpose instrument mic, every bit as sexy as its name might hint.
Buy the sE-X1 Vocal Pack
, and you get a pro studio quality pop shield and a decent, anti-noise suspension mount bundled in. Should still get it for less than US$150.
As a musician, music technologist, recording engineer, I've used some very expensive mics (AMS/Calrec, Neumann, top-end AKGs); I've also used some utterly appalling mics (not all of which were bargain-basement cheap!) - but I see precious little on the current market to touch the quality-per-dollar of many models in the sE range. As a general-purpose "go to" large diaphragm condenser, the sE-X1 a real peach. Clean, precise, honest vocals (with just a trace of warmth); frightning honesty with acoustic guitar; great with cabs (just don't turn it up too loud); it'll even give a delicious, silky sparkle as an overhead above a drm kit.
If you want to run it straight into a PC or Mac, there is a USB version available.
About the only firm I can think of that might offer something to compete for quality, versatility and price might be R0DE - but certainly, for my studio today, there's nothing near the price to touch it.