Don't go buy them all up before I get a pair, but front end audio is selling a set of 2 ATM 450's with 2 mic cables and a stereo mic holder included for $299.99. They normally go for about 250 a piece with a list of 499. These seam to be popular SDC's for overheads on these forums. Audio Technica ATM450!!
At this price you could afford a full set up, maybe 4 sm57's for snare and toms at $100 a piece. At this point you've got your overheads, toms and snare covered, and your only looking at 700 dollars plus tax and shipping that leaves room for a nice kick mic, maybe even an inside and outside kick mic. I have the D112
but I think I would try something else probably the audix D6-$200.
With this setup you would have a very respectable set that even the pros wouldn't mind using.
ATM450 pair-299 @ FEA SM57
Your looking at about 1000 after shipping
If I didn't already have 5 SM 57's and a pair of overheads, I would buy three pairs of ATM450's and use them on toms and snare as well as overheads.
Now you can use the Sm 57's for electric guitar and vocals if you wanted. The MD421's are popular for snare and toms, as well as electric guitar also, but they are 380 a piece.
If you wanted the MD421 for snare, you could do a 4 mic setup with the ATM450's 299, Md421 snare 380, and a good kick drum mic, and still be in your budget.
Or you could get the AT450's 299, one sm57
snare-100, and one audix d6-200. And you would be at only 600 before tax or shipping, and could get a pretty killer sound.
Plus you'll save some money getting those two free mic cables.
I have the mics and preamps to do a 10 mic setup if I wanted, but I still do a 4 mic setup most the time anyways. The overheads will pick up the toms pretty well. But if you do a lot of work on the toms and want some control over them, get some more punch out of them afterwards you might want to close mic them. Lot's of well known rock drummers have used 3 or 4 mic setups John Bonham for example.
Another excellent choice for overheads are the oktava mk-12's. They can be had for just over 500 for a pair. They are probably the most popular overhead mics on this forum. I've never used them, or the ATM450's, but both are highly recommended, the Oktavas more so.
You might rather go
total $850, and you would have probably the most popular choices for OH, snare and kick.