AKG d224e by Cathedral Guitar
The AKG D224 is my absolute favorite dynamic mic, and is also one of the best bargains you can get in terms of dollars paid vs. sound quality. Right up there in quality with the Sennheiser MD441 and MD421, I actually prefer the sound of the D224 on acoustic and classical guitars. The response is very full range, 20-20k, and with its 150 Ohm impedance, it sounds great on a variety of preamps, requiring about 60 dB of gain for acoustic guitars.
It has the warm sound of a dynamic mic, but the flat, extended frequency response gives it a condenser-like quality, in that you never feel you are being short-changed on the high frequencies.
Its biggest strength for me is the price, as it is in the quality + sonic level of the MD441, but costs about 1/2 the price on the used market. Some folks have mentioned that it can be difficult or impossible to repair if dropped or broken, but to that I say: just baby the mic and treat it like a tube mic, and not like a 57, and you should be fine.
Also, they are beautiful looking microphones. They feel like they are made to the highest build quality, feel very solid, and precision engineered to the highest level. No corners were cut here, and they were going for the best sound/build quality they could get for a top pro-quality, studio dynamic mic.
This mic gets also my highest recommendation in the bang-for-the-buck department, as I'm hard pressed to think of anything else in the $200 range that would get you this quality of a professional studio microphone.