Depends on your type of voice.
On my (bright) voice, a bright mic like this one can easly cause ear bleed.
The Shure Beta series and the NT1 or NT1-A are also bright.
An issue with the Shure's is their fussiness towards which pre you use.
I have a M-Audio Duo (like DMP3) and can get good vocal quality out of a SM57. BTW the cheapest upgrade from a SM58 is a '57 because the different
configuration(foam/mesh) on a SM58 causes it to lose some "air" on a vocal.
Another pre for under $150 that works well with a Shure is the Studio Projects VTB-1. Only sold my VTB-1 to get the software that came along with the Duo to try computer recording out.
Sometimes you can score a used Electro-Voice EV 635a on ebay for about $60. Mellower top end than most budget condensers.
They're much less fussy than the Shure's when it comes to "which pre".
Despite being omni pattern, you can "eat" the 635a close up, plus it's much easier to place vs. a cardiod pattern since it's omni (no proximity effect).
A worthy alternative to the SM57 is the Shure 545 series, and they usually sell for less $$ used. A 545 was used for ALL the lead vocals, for example,
on "Pet Sounds".
Chris