The M-Audio Aries is a vocal condenser microphone that is suitable for both use in the studio and the stage.  I have only used it in the studio, but it definitely has the look and the shape of a stage microphone.  However, since it is a condenser microphone it does need to be treated with a little bit more care than a normal dynamic microphone would because it is more sensitive.  It does also require phantom power as all condenser microphones do, so you need to have it plugged into a board that has phantom power if you are going to use it for live shows.

OVERALL OPINION

I've been using the M-Audio Aries for a few months here and there as a cheap option for laying down ideas.  I believe that this is what the M-Audio Aries is best suited for and I don't think I would recommend using it for much else in terms of use in the studio.  It has a pretty decent overall sound, but lacks a certain fullness that I would look for in a good condenser microphone.  Although I can't say that I have any experience doing so, I would bet that even though this is a condenser mic, that it would be suited well for live shows, granted you have the phantom power to use with it.  I say this because of the general make up of the mic, and how it is indeed a hand held mic.  It is specifically designed for vocals and definitely looks like a vocal mic.  The price of the M-Audio Aries is really cheap and is probably the main reason that people will be interested in this mic.  While it isn't one of the better mics by a long shot of mics that I have used either in the studio or for live shows, it will get the job done in both applications, of course depending what you are trying to do.