I have an SM 57 and an Studio Projects B1. I prefer the B1
However, as important as the mic are the acoustics of the recording space.
When I was first recording I was mostly happy with the results but after some time listening there was something about the vocals that sounded off. On a re-listen to the raw vox I could hear some slight room echo. Once I rearranged my recording setup (nothing too complex, just a few panels and some better mic placement, plus I started singing closer to the mic with a lower gain) things sounded much better.
It took me a while to get the right placement, direction, place some sound absorbing panels, figure out pre-amp settings, recording level, and a host of other little details before I was able to get good results. It’s worth the trouble (to the extent you can manage it).
For me there were just some things that were impossible to fix in production (such as that room echo). Double-tracking, reverb, etc. can’t hide/fix everything.
The B1 is what I used tor record my album of songs: http://music.jamesbritt.com
I recorded using an M-Audio preamp (http://m-audio.com/products/view/audio-buddy) into a Tascam DP-008 EX.
I would do about a dozen or two takes of a song, bring the wav files into Reaper, comp the vocals to get whatever sounded best in each take, and then import that final wav into Renoise.
Audacity should work fine, too, Depends on the sound card used I suppose.
I typically did all vocal fx in Renoise (though when comping I would use some compression and reverb while listening to get a better feel for what it would likely sound in Renoise).
Some discussion on another site: