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Best mic type and placement for my needs

I have a Fostex MR-8 MKII that I have been practicing my coffee shop act out on. I have a pair of MXL condensor mics that I am experimenting with, and I want to ultimately only use one mic through the Fostex and then out to an ampmonitor. I am hoping to be able to capture my acoustic guitar (or mandolin) and vocals adequately considering my budget approach - also at times there might be one or two others gathered around the single mic - Grand Ol' Opry style. I have found that overall the 990 sounds better than the 991 for capturing both instrument and vocals.

The question: what is the best mic type and placement for my needs ? A cool retro mic suggestion would be greatly appreciated !