i didn't say that you "ought not record", but what i DID say is that "you might want to reevaluate what you're recording and why." some things are just simply *fundamental* to getting a good recording. using a "decent" mic is one of those things. yes, you can sometimes get surprising results with el-cheapo mics, but i would wager that those times are fewer than they are frequent. to paraphrase Fletcher: it's not the gear that makes the recording good.....but good gear certainly makes getting a good recording a LOT easier.
if you want to use a $15 radio shack mic to record, go right ahead. but what i'm saying is don't then complain that it doesn't sound like the latest Matchbox 20 cd or when you're getting crappy results out of it. of course, a shitty engineer can have a box full of U47s and get shitty results from them, too.
used SM57s,
Senn e835s, EV635s, etc., are VERY abundant at the $40-50 range. I didn't pay more than $40 for either of my 835s, and under $45 for each of my 3 shure 545s. so yes, they're definitely out there.
ebay is but one of the myriad places to shop. look around at all kinds of used music places. check pawn shops, old studios, your local music venues, old soundmen, estate auctions, etc., etc. above all, be patient. you'll find the deals--as long as your money's not burning a hole in your pocket.
cheers,
wade
edit: PS, check out the caption under the Mic Forum if you need a refresher.....think this was put in for a reason?

:
"Which mic should I buy, why can't I buy it at Radio Shack, and which way do I point it?"