I use 3 mics on guitar amps every time. I set up a M/S pair with a ribbon and some kind of dynamic (they all work fairly well) about 4' away, and another ribbon about 4-6" from the grill cloth. This is out of phase, so in ProTools I match the phase of the close ribbon mic to the M/S dynamic as best I can. Copy and invert the phase of the side ribbon mic, stereo pan, and viola! Huge guitar tones, supple mids, wide stereo image, and tons of low end punch.
I use the close ribbon just as a supplement to the M/S pair, the close ribbon has a lot of bass and punch. The M/S pair has all the air and feel, but by itself has a distant sound.
The amp and speaker are probably more important that micing though. I'd rather have one mic on a good sounding amp than three mics on a mediocre amp... My definition of 'good' and 'mediocre' amps has changed drastically as I've spent time chasing guitar tones, with my (expensive and well-respected) "favorites" finding their way to Ebay as I started to hear what was happening in a studio. Truly usable electric guitar tones are really elusive, the best thing I've found is trying to start with what worked for the guys in the 60's (arguably best guitar tones ever, depending on what you're going for), then tweak to personal taste from there.
Just my opinion on the matter, of course...