one more word of warning:
cheap mics sound cheap, that is why they are cheap.

What are you going to use as a pre ? Are you planning of using any outboard gear ? If so you will need to bring your mic (loZ signal up to line level before it can go through a compressor or a midiverb or whatever.

Anyway, best of luck

(I'd sill forgo the mic and buy a pod 100 bucks on eBay, that is less than an SM57 and a good cable !!)