According to the specs, the SM57 has a response of 40hz-15khz..the SM58 is 50hz-15khz. As far as sound goes? They sound pretty much identical and if you look at their freq. response graphs, they are pretty identical also except the 57 has a slightly lower response around 100hz, while the 58 has more..contrary to Shure saying the 58 is desgined to roll off bass.
-Sal