I think the take-home message here is "experiment, experiment, experiment". Every acoustic and every mic is different, and they all have different sweet spots.
Because of "proximity effect" a microphone changes its frequency response greatly depending on how far it is from the source of the sound. For example, if you the mic starts two inches from the soundboard, you'll get a huge difference in the tone if you move it only an inch farther away.
I've found with my mic and my guitar that aiming it at the soundhole about 8" away and pointing slightly up at the strings from slightly below works well. In other studio settings, I've seen people aim the mic at the junction of the fingerboard and the body of the guitar. That sounds like crap with my guitar, but your mileage may vary.
A decent condenser will sound much more "open" and capture the harmonic nuances of the guitar more purely than a dynamic mic, but if you EQ it right, you can get a dynamic mic to do an acceptable job.
Keep in mind that a condenser will also pick up just about every little noise within a 100 mile radius, so turn off your refrigerator, your air conditioner, unplug your fishtank bubbler, and put your cat outside. You'll probably also have to record using a remote such that you're not in the room with your deck. Most decks make enough noise (even if it's just the clatter of the hard disk accessing) to end up on the finished product.
The quality of the reverb unit you use will make a huge difference in the finished sound.
Using a separate stand-alone preamp of good quality will also make a big difference. I noticed the biggest improvement in
acoustic guitar sound when I started using my ART "Tube Pac" preamp instead of the built-in preamps on my mixer.
Unfortuntely, once you get a good condenser mic and a good preamp, you start to notice if your guitar isn't the best quality! I know I did. For better or worse, a warm full sound starts with a well-constructed guitar, and that often means making an investment in something of quality like a Martin, Gibson, Taylor, Larrivee, or higher-end Tacoma.
There's a reason things like mics, preamps, and guitars can get so expensive... they sound better!
Have fun, and experiment! Do the best you can with what you've got, and let inginuity, your playing, and songwriting make up for what you lack in equipment.
[This message has been edited by CharlesThomas (edited 07-14-2000).]