If you have the mic, put it in front of a bass cabinet and see if you like it. Without knowing what type of bass sound you are going for, there is no way to answer the question. Skaman's EQ suggestions may work well for what he does, but would be suicide in other forms of music. As for guitar, put the 57 and the tlm in front of the guitar cab and see which one is better sounding for you application. You don't have to ask permission to try a certain mic on a certain source, just try it.
If you are asking if the mic can handle the sound presure, I think it will be fine.