[..i'm stuck in the house killing time waiting for delivery of a new 'ebay' guitar..]

so..

as for microphones..

the market is swamped with very good quality cheap chinese made
'studio' condenser mics [less than £100]
issued under a variety of brand names..

current sept 06 issue of UK magazine 'Sound on Sound'
conntains an excellent article on 'the essentials of choosing and using studio mics'