If I had to start from scratch, I'd probably go with these first:
A Marshall MXL V67G Condensor for vocals and as a room mic.
2 Marshall MXL 603S Condensors for overheads, guitars, and perc.
2 Audix TR-40 Omni Condensors for overheads, guitars, and perc.
About 4 or 5 Shure SM-57 Dynamics for snare, toms, guitars, etc.
3 or 4 Sennheiser MD 504-D or 604 Drum Mount Cardioids for toms
An AudioTechnica ATM-25 for kick
A Beyer M-201 for snare and various things
A Shure SM-7 Dynamic for an alternate main vocal mic
A Sennheiser MD 421 for floor tom and other stuff (including vocals)
Those mics would cover about 99% of anything that I normally record, and
I could get by pretty easily with just the above mics for a long time.
Then, when I had some more money, I'd add
a Neumann TLM-103, some ribbon
mics, and a few more other flavors.
Harvey Gerst
Indian Trail Recording Studio
http://www.ITRstudio.com/