though I seem to get a better sound micing my acoustic guitar.. because thats what im usually recording... im still trying to get the electric guitar sound down...
I used my mahogany electric guitar that i built into my small POD ----> jcm2000 tsl and then I put an sm58 slightly off axis 2 inches away from the cone.
It would sound better If i could get hold of a large diaphram or ribbon mic to pick up the amp with its room noise about 3-4 feet away from the cabinet and mix the two together... Ive heard better sounds than mine from this setup...
also look around on the internet and find out what alot of people are using and put together your own custom sound from all the ideas.