This small diaphragm dynamic microphone is the pinnacle of modern recording technology. It has a high-mid frequency boost which can make it difficult to control in terms of harshness but has heavy off-axis coloration to dampen the highest of frequencies.

OVERALL OPINION

This is the swiss army knife of your studio. You can use it on any source in the studio from Accordion to Xylophone. Keep in mind that this microphone is heavily influenced by the type of preamp that you pair it with. The better quality preamp, the better reproduction of sound you can expect. Currently in 2008, they are easily had for $100 new and anywhere from $50 and up used.
This microphone is also built like a tank. I've never been able to break one and I have hung pictures with it. This is originally intended to be used as a live microphone for sound reinforcement though the large polar pattern makes it less than suitable for fighting feedback. It is now most suitable in a recording situation.
To sum it up, if you put this microphone in front of your source, it'll pretty much sound just like you heard it in the room. Highly recommended.