You know, I'd be interested in hearing others' opinions on this, but when recording I always found that a good condenser mic would give me a lot better results for recording vocals. With the phantom power on these units, they are extremely sensitive and have a really flat frequency response, and you really can "sing" without straining. For live performance, I have to agree with Shack on the SM series from Shure.
Another use for condenser mics that a lot of folks lean towards is miking for acoustic guitars. Because of the nuances of tones, not only musical, but fingers sliding over the strings for instance, they are superior for picking up these types of things.
A couple brands I would look into are Rode (NT-1 about $230), Shure (KSM27 about $199), and Electro-Voice. EV has some B-stock models on Musiciand's Friend right now for $50-$75.. a steal if you ask me. Of course you can spend a whole lot more too. Around the $1k mark you'll see some offerings from AKG, Audio-Technica, Neumann, Blue Bottle and others.