Whats is more important: Mic or Placement?

Neil Ogilvie said:
What would make more difference:

A) Using a top end SD condensor and just have a basic idea of mic placement, or a cheap behringer B5 and a really good idea of placement? In applications such as OH's and Acoustic Guitar.

B) SM57/e609 on a guitar cab but knowing exactly where to point it or a a selection of expensive mics in poor placement?

In other words, knowledge and poorer mics, or expensive mics and no knowledge. I feel that mic placement is often an overlooked skill on this board - it can often mean for a newb they do not need to buy a $500 mic but need to learn how to use what they already have to its maximum potential.
It depends on how much damage you want to do. :D
 
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