I JUST picked up a Nady RSM-5 ribbon mic. It is supposed to be similar to a Royer 121 if you upgrade the output transformer... which I will do eventually. Honestly though, I did not pick it up because it is supposed to be the poor man's Royer, I got it because it is supposed to be a good example of a ribbon mic and the price was very good. With not putting out much $$$ I can justify spending some more on it eventually to upgrade the transformer and get more out of it.
Speaking of upgraded transformers, some folks have swapped out the tranny on their SM57s and thus got another mic flave out of the old standby. I might do that to one of my 57s in the next year or so just to add another mic to my collection. I made a personal vow not to pick up any more dynamic mics, so changing the transformer is a work-around!
And BTW--I was not worried about $$$ for folks to reply regarding their favorite guitar mics. I was really interested in hearing what different people on the forum have used and if there was anything that stood out or seemed to work best for them.
I agree with one post that there really is no one choice. That is why it is so good to hear everyone's experience on the matter.
My KSM44, SM57 and Rode NT5 room mic experience has been good. I think maybe I can do a little better. Sometimes the high-end gets fizzy through the condensers and sometimes the SM57 can sound a bit dull. So anyway, like I probably said earlier, I have a big desire to try out ribbon mics on guitar cabs. Now I will be able to do just that.
Another mic I saw online that really intrigues me is the KEL Audio HM-2D. If you get a chance and are looking for a different mic, check out their site. It seems like they are doing something different than all the other Chinese mic importers. I will probably pick one of these up eventually, but I have been on a recording gear buying spree lately and I am about tapped out.