Shure SM57...$80.00 Works on acoustics OK, amps loooove this one.
Audix i5.........$99.95 slightly brighter than the 57 which helps on the acoustic, works on the amp, too. You'll just have to keep it a bit further towards the speakers cone edge for less "fizz". This mic is a real sleeper.
ll prices are US dollars, "street price". Your mileage may vary.

I'll second the SM57. It's a great foundation mic for any collection. Will do a great job on the cab (as well as a dozen other things). Eventually I'd get a small daiphram condenser for acoustic guitar, but you'd be over your budget with even the cheapest of those. So I'd buy a great mic for the cab, rather than a better mic for acoustic that you'll end up upgrading some day anyway.

As an aside, I have not tried the audix. A lot of people like them as an alternative to the 57. But a 57 was my first "good" mic back in 1974, and it's definitely not the weak link in my recording or live sound chain. I understand people who want to experiment, but there's something to said with going with a classic, especially when it is the price of a couple of cables. Of course, that's no reason to go against what your ears tell you.

We are all in agreement here that the SM57/58 is one of the best all-around microphones you could possibly choose. But if you would like that microphones with a little additional high frequency response, I would still choose the Beta 57/58. They don't quite sound like there SM siblings since they have an extended high frequency response but I still think they sound better than Awdicks.

Own SM & Beta's here
Ms. Remy Ann David

I like to lump mics into four basic categories....Theres the Fantasy mics....the Use-em-if ya-got-em mics.....the Swiss-Army Knife mics....and the Deserted Island mics.

The Fantasy mics are things like the Manley Gold ,various versions of antique Neumann tube mics, Korby Convertibles....stuff that cost as much as small automobiles....so not in the mix here........

The Use-em group has a lot of 'industry-standard' mics like the U87 and the Soundelux U95, RE20 EV's, 421's,Small D Neumann's, ...again, spendy(to a degree) and not in play here.....

The Swiss-Army Knife mics are getting close to what you're talking about. These are mics that will sound good on ANY source, will work everytime you plug em in, and will (a LOT of times) solve a problem source. They include all of the mics mentioned so far INCLUDING the "Awdicks".

Then theres the Deserted Island mics. Theres only three. They are the Shure SM57, the Beyer 201 and the Sennhieser MD421. If you are shipwrecked with only a fourtrack cassette recorder, plenty of tape, a solar battery, and a uke, guitar, and a banjo comes floating by, rest assured that with any one of these mics, you can make quality recordings.

And Remy, you need to get yerself some 'Awdicks' mics...Made right here in America( Wilsonville Oregon)...completely different voicings for each model....the drum mics are bulletproof and sound as good as any 'modern' shure (nothing touches an old Unidyne lll)...and while I dont recommend shelving ANY Shure (I gots lots meself) I do recommend the Audix as an alternative. Ya know I love ya...so get out there and hear em for yerself....with what I sense about your hearing and the gear you have, you're gonna see what I'm all about with this....The SCX25 is a hidden gem of a condenser. As sweet as a sigh and as detailed as it gets. And the i5 is an unbelievable mic in the vein of an old 57 with more top and a tighter low end. These are NOT cheap low-end mics. They are simply well-designed bargains.

I'm OUT!

Looks like it's between the i5 and 57. I'm sure I'll be heading out to Guitar Center one of these days, maybe they'll let me try'em out. Thanks.

Davedog, I really haven't had that much experience with the Audix line of microphones. The last time I crossed paths with those were five years ago and they did not "WOW" me. I saw a lot of the late-night TV shows had "Endorsement" packages of those and they have all but disappeared and gone back to Shure's, so?? I didn't even know they made a condenser since I have not really been keeping up with them? I am looking at some of those Cascade $159 Chinese ribbon microphones but haven't purchased any yet. Looking forward to some reviews here/hear?

Ribbon crazy broad
Ms. Remy Ann David