Well, J.D. Crowe always said that an SM 57 pointed at the neck/pot joint got HIS sound out there. Saw Scruggs on the Opry two nights ago, and his banjo sounded awful...well actually it just didn't sound like "Scruggs".I haven't seen or heard much info on banjoists going the "two mike" route. It couldn't hurt though.
Cheers
Rick