For a while, I only had two crappy dynamics that cost <$60. When I was recording exclusively with my 4-track, they could sound good, but I decided to start recording digitally instead and their cheapness showed. I sold them and got an SM58, but that's all I have right now. Seeing as my band are looking at recording soon, I've started getting interested in getting a decent collection of microphones.
A lot of people have told me that dynamics are better to use than condensers, so I've been sticking with getting dynamics for now (I do, however, want to get an LDC at some point). I have a Beyer M61 coming in the mail (a friend of mine turned me on to vintage Beyers, and they seem like really great mics), just bid on a cheap pair of Beyer M81s, and I have cheap (<$150 [!!!]) SM7s and MD421s on my eBay watch list. I may or may not keep the SM58, depending on how I like the other mics I'm looking at.
I'll primarily be using these for micing my amp (which will mostly be clean, but I use an overdrive pedal sometimes) and vocals. All of these seem worth getting to me, are there any I should really focus on/avoid?