I was experimenting with making some cheap mics sound like sennheiser 416 mics. I first tried simply eq but that only raised and lowered respective quality, but it did help with wind and unneeded high freq.
I stumbled upon a solution that I thought I'd share.
audition's studio reverb high frequency cut at around 100hz is pleasant sounding and sounds suspiciously similar to 416's.
this was my very final step, of course, after simple eq, remove hum/noise, multiband compressor.
Last decade of even more, cheap doesn't mean bad and expensive doesn't mean good. I can tell you for a many sessions where we choose cheep T-Bone mic over Neumann U87, cause it just sounded better to our ears. Forget about a price tag, unless you want to attract clients.
Agreed, you should regard microphones as a tool, not unlike the brushes a painter may use, I found that having a wide range of microphones is better than just having one or two really expensive "high-end" ones. The more the better really, the hard part is memorizing which one sounds which way. Takes a lot of experimentation and experience. However, with todays recording setups recording the same instrument with 3 or even more different microphones is not a big issue and lets you select the perfect mic afterwards.