Yes it is AT's answer to the SM58, no it's not as good, overall, but I own one that is my mic of choice for live performance.
I have used it for so long, I'm really used to the sound, and characteristics of it.
If I had an SM58, I'd probably try it out and see if I liked it better, but I don't, and I'm happy with what I have so. . .
In fact I've used it so long that I'm afraid it doesn't smell very nice.

(unless you
like the smell of dried saliva.)
For recording, it would work well on instruments maybe as a substitute for an SM57, (snare, Guitar amp, etc) but not for vocals. Just not what it was designed for. I mean it will sound OK, but what you generally need for "THE VOCAL SOUND" is a LD condenser mic.
What the heck is "THE VOCAL SOUND" anyway?
Does anybody care?
What am I rambling about. Gimme some coffee. . .
