Well if you only want four mics...I'd go this way.
1. sm57 good all around choice. You can use this mic on anything. Snare, Tom, Egtr, Vocal and even Agtr & Piano.
2. Sennheiser MD421. Good kick mic, Egtr (more lo and top than 57), ect..a great dynmic to complement the sm57.
3. For condensers? I'd get a pair of the new shure KSM44's. They are very versatile (with Lo end roll-offs, multiple patterns and pads) and I believe you can get these for around $700-$800 each. If that's too rich for you blood, maybe someone else here can recomend another brand/model of Large Diaphram Condensers.
Sometimes small Diaphram condensers are better on a particular OH, ect; but they the Large ones will be much more versatile and will be your primary Vocal mic (also the 57 & 421 will be great for certain vocal's..especially Loud in your face rock vocals).

have fun

If money becomes no object, 4 4006 Bruel&Kjaers (now DPA) or 2 pairs of 3529's (also DPA).

I wonder if Stephen Pauls new Mic would be considered an Everywhere mic, or primarily for close vocals and instruments?

Be curious to see how it will be voiced. I know it will be awesome. This is no doubt.

For the cheap, 2 451 AKG's a 57 and a 58.

I was fooling around with some of the mics at my local guitar center and I came across a MXL v69 mogami edition. It sounded great...i believe its a Tube Condenser Mic. The other mic i also liked was the Rode NTK. Does anyone else have experiene with either of these mics?

On the cheaper side of things, how about an all Audio Technica lineup to go with the 57? ATM-25 for kick and Egtr ($140 street) and 2 AT-3035's ($200 each with shockmounts). I agree with RecorderMan, though, by all means sneak in a 421 in place of the ATM-25 if your budget will allow.

You gotta have a 421...it is the *law*!!! :)

I have the NTK, and it is really wonderful! I just got it, so I have limited experience so far, but from what I have heard so far, I am absolutely blown away at the great sound!

until just recently, i've owned just 4 mics (all in the low end category) and they've served me very, very well. here they are:

1) shure sm57 - about $70
2) rode nt2 (large diaphragm condensor) - about $300
3) oktava 012 (small diaphragm condensor) pair with cardoid and omni caps - about $300 for the pair with the extra omni caps
4) sennheiser 421 - about $200

ok, i kinda lied. i counted the oktava pair as one. but considering the whole collection is still just under $900 makes it ok i think :)

seriously, over the last 5-6 years i've gotten some great sounds with this little collection. obviously, you can't track a large (or even a medium) sized ensemble simultaneously with this few mics. but for me, a lot has do to with how the mics are used, placed, and really listening to them. meaning, take your time and experiment with the mic and it's use.

the few mics i've added recently are more out of curiosity than necessity. i've added a sennheiser 441, an omni dynamic ev (model no. escapes me), and a pair of stapes omni small diaphragm condensors to my little collection. i'm tempted to give one of those cheaper oktava ribbon mics a try next...

tony

I've had some pretty good luck using a 57 on, kick, snare, guitar and even a bass amp with quite good results. You might do well in getting 2 of those. Another good mic to check out would be the AKG D112 it works good on kick and bass. For the condensers I would suggest some SM81's. They sound great as overheads or on any acoustic instrument. I have also heard good things about the RodeNT5 and the Okatva's. They are both supposed to be good.