I think that this mic has seen a lot of hype since its release. Its one of the first, stunningly useable mics to emerge from a pack of really *cheap* bad ones a couple years ago. To those who had come to detest the sound of all cheap mics, the C-1 was a surprise indeed and it set everyone on the ears to check it out. Lots and lots of good words flowing around about how great it was for the price, even from begruding pros who had to admit it was a useable mic.
Well, its still a great mic for the price. Is it a fantastic mic that will blow away mics costing many times its price? As with all things, it depends on the mic and what you're using it for. It has been around long enough now for the hype to die down and I think it has proven itself as a very soid choice for the home recordist at the very least.
I have 2 and regularly use them as a stereo pair for busy bluegrass jams. Frequently they are the only mics that end up in the mix, with EQ's subsets being bussed out, fiddled with, and mixed back in for any details that need to be brought out. They sound that good in my room. (and many of the players can't stay on their spot mikes for shit. I've even had a few of them move their mics around mid-jam for some #@%! reason.)
Its one of only 2 main vocal LDC's that I regularly use. The other is a Groove Tubes 5sm solid state mic. If I have a busy mix, I'll tend to like the GT as it gives me a...narrower?... sound that is easy to slide into a busy mix. The C1 sounds better where the vocal needs to be very up front and polished. With my voice in my rooms. I also use it a lot for voiceovers. Nice proximity effect, sounds big and glossy. I don't like it so much, by the way, the further I get from it, so I tend to track loud and quiet vocals seperately instead of "working the mic" too much.
I also have some *cheap* Nadys and a couple Oktava 319's that come out when I run out of mics, or have a lot of backing vocal over dubs and don't want to use the same mic over and over. The Nadys have never sounded that good on vocals (except once, a singer with an unusual voice) and the 319's.... enh... nothin' to write home about, but they work for backing parts.
So that's what I have to compare them to. In my book, they are indeed great mics for the price. I'm very happy I have them, and glad they are not the only mics I have.