Alvin, You cannot underestimate the power of good mic technique. When it is just right, you can get a cheap mic to sound just like an expensive one. Mics have gotten better and better in recent years. If you do not have to compete with a band or get feedback from monitors, I would try to keep it high pointing down at you about 4ft. This is great for classical guitar. How ever if you do jazz you want to get close. Placement is different for every player. When you find the sweet spot you'll hear all the frequencies of your guitar all at the same time, not bassy or trebly.