If you're looking for inexpensive mics that might work for you here's what I recommend: The K-Micro Silver Bullet Drum Pack (
http://www.karmamics.com/products.html) @$79, the Takstar pencil condenser (item # 330238341297 on eBay right now) @$10 for hi-hat and the beta 52a on kick. Can't get any cheaper than that (well, unless you use a Stagg kick mic for $40 like I use for live) and they work surprisingly well.
The Karma mics are similar to the Naiant (I think they both use Panasonic elements) and they work great on snare, toms and OH. One of our guitar players loves the sound he gets on his cab with the Karma. The Takstar is surprisingly good on hi-hat. I have a good mix of mics (Shure, Sennheiser, AKG), including a pair of SM81's, so I can make a decent comparison.
Room sound is vital like others are saying. If you don't need to isolate your toms, just go w/ a 4 mic setup. If you have a good sounding room, experiment w/ a minimal close mic setup and some distant mics. Also, most people mic the snare drum on top and sometimes a mic on the top and bottom. For live work if you use a bigger mic, miking the snare on the side (close to the top) gets a good sound and keeps the mic out of the drummer's way.
Since you say you're a guitarist, your drummer probably has his own opinion... if you're using the set for different drummers coming in make sure you have decent heads on the drums. That also makes a huge difference. Also, if you end up using a lot of mics, keep in mind that you'll be getting into phasing issues...