The "-10dB" is what is known as a "pad", and it reduces the output by 10dB (about a factor of 3 in amplitude). It is used when you are recording very loud sounds such as guitar amplifiers to reduce the chances of overloading the pre-amp that you plug the microphone into. The "low cut" removes lower frequencies from the output of the microphone. It is normally used for vocals to keep bass instruments and other low frequencies out, but can also reduce the effects of the vocalist causing "popping" or eliminate rumble from air-conditioning systems.

Generally, cardioid dynamic microphones like the SM57 don't need shock-mounting. The only time I have had to use a shock mount on a 57 was on a stage that vibrated so badly nothing would stay still.

As an aside, what is your budget for a microphone, and what do you intend to use the microphone for? It may be that you can do better than the AT2035 and still stay within the same price bracket.

Hey there, Thanks for the info regarding the mic switches :)

on the "Low Cut" switch the left side has a slant line over it like "/" (sort of) and next to it is "---"
I am guessing that when the switch is over the "/" would mean Lower and the "---" is standard setting or something like that?

I ended up getting it off of E-BAY (still has warranty card) for $90! The seller has over 200 sales and 100% Positive feedback.

You can't go wrong at that price for a fully-working AT2035.

The "/" mark is the "low cut" position, where the low frequencies are attenuated. As a rule of thumb, use this setting for vocals. The "--" mark is the "flat" position, where the low frequencies extend down to the natural limit of the microphone. Use this setting for instruments.

Once again, Thank You many times over Boswell !!
I am going to take some time tomorrow to play around with the mic :)