Why do we all love the SM57? I realize that it's kind of the gag that each and every one of us is suggesting the 57 for a beginner, however I think with as many choices as kids have these days for cheap condensors, that they might consider something else, dependent on what they're recording. I would probably still suggest a 57 for a punk rocker, but for an acoustic singer songwriter, I'd suggest that Marshall (I think it's the 1006) that you can get for $99 from AMS I think it is. Or that CAD that Musician's Friend is selling for $99.
Oh, and don't forget, any beginner that doesn't start out with an SM57 should be drawn and quartered. (I didn't have the heart to break the streak we have going here.)