For your budget you can't beat two 57s. If I had $175 per mic to spend, those would be my first choice - and they are only half the budget! You can make a very decent demo with them, if your songs are any good. It's all about the songs, not the mics.
Inexpensive effects processor? The Lexicon MPX100 has an excellent simple delay/reverb and a few others. I use it in my live PA rig for vocals. If you want more than that, just move up the Lexicon product line from there within your budget. When you have about $1000 or more to spend on effects, then start looking elsewhere as well. But with a small budget, Lexicon is the way to go IMHO.
P.S. - sorry, but I don't understand the poll question. At any price level, two mics usually cost roughly double the cost of one mic, while a reverb unit is always that much more. None of your choices is a "better deal" than another.
Last edited by MichaelK; 06-03-2002 at 09:46 AM.
Peradam Productions, Atlanta GA