Hey Mickey, are you just using 1 mike to capture a session with several participants, a few participants, or just yourself...I only ask because I have heard people refer to a solo act show as a session. Also, is the session being set up for recording or are you just capturing whatever happens. This may affect how much control you have over the players and their arrangement...Most sessions that I have seen have been several people sitting in a circle with a very dynamic flow...no set pattern of who gets what lead etc...This type of set-up would be much different from a small group specifically coming in to be recorded.

If there are no monitors than you should be able to use a condensor mike...and you will probably want something that is omnidirectional. It might also be worth it to see if you can hook up a compressor of some sort to keep the sound pretty even (Alesis has a pretty inexpensive one - NanoCompressor) ...Unfortunately, I don't have any specific recommendation...but I'm interested to see what some of the more informed suggest. (you might also want to check out some of the other recording threads)