Well, I was reading up on Wikipedia a bit about different mics, because I hear a lot of them mentioned in these forums. Well, I figured out more or less how each functions, but I was wondering what the best usage of each is. I titled it condenser VS dynamic, because those are the two types of mics I hear most commonly around these forums.
dynamic are used live becuase they are more ruged such are shure sm58 and condenser are used more in studio work as theya re more fragile, there are exceptions to this but those are the two general catagorys when recording you could still use dynamic. Using dynamic mics on guitar helps get the 'american tone' it picks up ther amps sound perfectly as it comes out of the amp and the 'british sound' is got by using mics such as shure sm57 these add a little compression to the sound as they dont pick up certian frequencys aswell hope this helps you
Condenser mics are great for capturing the sound of a room. When mic'ing drums (recording), you typically will find a pair of condensers used as overheads, and occasionally if one on the kick. I used to use a CAD E100^2 for micing my drummers kick in my old prog band. When micing loud amps and kick drums with a condenser mic, make sure the mic is adequetly rated for the high sound preassure levels (typically labeled "SPL") because some condensers had delicate diaphrams.

Also, if you are micing the same source with multiple condensers, there are rules about placement in order to avoid phase issues. Most mic preamps have a phase swithch to help with this. Condensers need an exernal power source such as a battery or phantom power from the board.

I have a good friend (a producer I often do session gigs with) who really believes you NEED a condenser for micing electric guitars. I have been happy with a 57 on guitars for years. They are cheap and do not suffer phase issues when using a few of them. I like to set two or three on a cabinet and then blend them for a tone.

When micing acoustic guitars, condensers are thebest way to go, as I said, you will hear more of the room this way, and the subtle nuances of the guitar's resonance.

Hope this helps......