Beyer MC834
This large-diaphragm condenser mic has excelled in almost every application. It's got a wide, flat frequency response and is able to handle extremely high SPL's. The tone is natural without being dull and crisp with being shrill. It's a nifty choice for bass guitar amplifiers. If at first listen, the bass doesn't poke through in the upper-middle frequencies, realize that most ears are used to hearing the usual dynamic mics (Sennheiser MD421, AKG D112, Shure SM57) with presence peaks in that range. A boost in that area at the amp helps considerable. I've also had great luck with this mic on drum sets, guitar amps, vocal, piano... This is a great "main mic" for those on a budget. I got mine new for only $625 through Full Compass. It's a great alternative to the similarly-priced and now all-too-common AT 4033.
Coles 4038
Speaking of all-too-common, this ribbon mic has soared in popularity in the last few years. It's success is not unwarranted, however. I have been attracted to ribbon mics since hearing an RCA DX 77 many months ago, and when I found out the Coles was used as the drum overhead at Abbey Road, it became a must have. This mic imparts a thickness to anything it touches: drums, acoustic guitars, guitar amps, vocals... My favorite use is as a drum overhead. The high-end in the cymbals is smoothed out (or chopped off, as some drummers I've recorded have complained), and the drums themselves have an incredible amount of punch. Steve Albini is a massive advocate of this mic on guitar amps, where it does shine brightly. The cool thing about this, or any ribbon mic, is the contrasting tone as opposed to the brighter condenser or the more mid-rangy dynamic. They give the recordist greater flexibility to mix with microphones, rather than with processing.
Shure SM81
