Thoughts about the microphones I like to use
For the drum overheads:
sE Electronics 1A
Oktava MK 012A
These mikes are all reasonable priced and still good quality.
I lke to feed them to the Broadhurst Gardens D.A.V. 2-channel pre-amp. It has a very clean, uncolored deep sound. Great dynamics!
For the BD:
Beyer Dynamic TG D71
Shure Beta 91
I like to use at least two mikes. One mic inside the BD and the Yamaha SubKick outside the drum.
Usually I put the Beyer TG D71 on the pillow or just use any dynamic what ever I can find. It really depends on what I feel to use that day and the type of music I'm recording. Love to experiment!
Beyer Dynamic M201 TG
Shure SH55 ("Elvis")
For a deeper sound/more bottom gets the Beyer Dynamic and for more attack and high end gets the Shure.
Beyer Dynamic TG D35 (my choise for live situations also)
Yamaha MZ204, MZ205
Audio Technica ATM25
These mic's are the best (my humble opinion) for toms. They work well for snare and guitar also...
They have lot's of bottom end if needed, and the upper register is quite nice and smooth.
For the room I like to use the cheap T-Bone 105 Ribbon mikes. They work amazingly well. Or Audio Technica AT2020. I also have some hand made omni mikes that I sometimes use for ambience.
My thought is, that a good quality microphone is usually better than a bad quality microphone. Some people say, it a matter of a taste. I don't agree. If the sound you are looking for can be achieved with a bad quality microphone, then it's fine. To me, microphones are like cars. Mercedes Benz is better quality than my Ford Ka. They both do (almost) the same job, but Benz does it better and easier, but is more expensive.