Since I am the oldest and maybe least experienced with modern gear, I will give you my idea for a LIVE, Binaural sound for your banjo. TWO matched omni condenser mikes (mine were AKG C451E, or Syncron/Fairchild) spaced 8 inches apart. Banjo placed at the apex of the triangle. Further back is fine for the room acoustics. No mixing/equalization. Pure binaural sound. Google: Collection 1957-1988