I've used my Sennhesier MD 421 II only in the studio and mostly on tom drums and guitars. These are classic dynamic mics and I've seen very few studios without them. Although I have only used them in the studio myself, I have heard they are also great in a live setting on any application that a dynamic is traditionally used on, especially on vocals (as seen in the Concert of Bangladesh).

OVERALL OPINION

I've had my 421 for about a year, the thing I like most about it is its versatility. I have one of them and I always use it on the the floor tom as they capture the low end of that really well I feel. I also always use these on guitar amps, they are my mic of choice for that, along with an SM57/ I love having the roll off knob to adjust between musical and speech applications. To me, its one of the best dynamic mics out there and although it is a bit pricey for a dynamic mic, no serious studio should be without one. If I were to lose or break mine, I would certainly purchase another.