Seconded on the SM58. I don't know what it is about them but you see them everywhere, if you wanted a 'real' microphone it's a totally safe bet. I've seen them as low as £50.
A Welsh singer/songwriter called Martyn Joseph even wrote a song about them:
Another night, another date
Another SM 58
Another chance and I cant wait
Somewhere your waiting
Don’t go gently into the night
Don’t give up without a fight
Lets keep faith with what we know
Searching for the rainbow
I will be loving you tonight
I will be loving you
I’ll rip up my heart in these songs tonight
Another time, another place
You gave me love and tender grace
Now I beat these lonely miles
But I will find you
I will be loving you tonight….
Another night, another date
Another SM 58
I’l reach out and touch your face
I know that your waiting there
I will be loving you tonight…x 2 (tonight – is another chance)
Actually Martyn Joseph is a wonderful song writer and great live. We've seen him many times.
View: http://uk.youtube.com/watch?v=T3GgmhOs0XU