Its not a do-all-be-all mic but its close! You cant really go wrong buying one of these instead of some of the Chinese capsuled things that might be less money but are certainly less quality in build and performance.

Its a mic you'll probably keep even after you grow to a higher level of recording. Its very good on the acoustic instruments.

I had a pair of ksm27. I sold one to get at4040. The ksm27 is a solid mic,
but it is less "bright" than at4040. I agree with Davedog, it is good for acoustic
recording (guitars, percussion), as room mic for tracking drums. But I do not
use use for vocals. My advise, try it first.

I have the KSM32SL - I love the thing, I imagine this is pretty close to it. I have never met a shure mic i didn't like.

I own one and I use it as a drum room mic, on guitar cabs which I truly like a lot. I've used it on vocals and I agree, it could be a bit brighter, but it gets the job done in my opinion.