My 3 channel home recording rig....

you have 2000 dollars worth of microphones but are using moving blankets ?
I need a second to try and fathom this .
 
I love the concept and I was joking about the blankets (well a little anyway).
the TLM's excel on vocals I find. I don't use it as much as my RODE NT 1000.
I prefer that for vocals anyway, sometimes a singer finds a mic that fits his jandra, his range perfect, that's my NT 1000.
the Shure SM7b I thought was mostly for broadcasting stuff, how do you like it ?

I agree the TLM's work well for all kinds of acoustic instruments.
I only have 1. but I would love to be able to put one near the hole and the other near the neck maybe even a third for room ambience.

The moving blanket was cheap, about $5.00 bucks at Harbor Freight. I know it looks funky, but it does the job it was intended to do.

I'm very happy with the current setup. I pan the left 102 to the left and the right 102 to the right, I keep the SM7b panned to center. This gives me a nice rich tone, sounds like the guitar is right in front of you. The vocals can then be brought out front for a really nice sweet spot blend. You can bring the vocals up to make the lyrics really stand out so you can hear them well.  It has a very nice professional sound you can't get with one mic. Being able to mix these separated tracks was the goal and mission accomplished.

There is a much more elegant solution. Using two figure 8 mics. By positioning them the right way you can get near perfect separation between vocals and guitar.
 
http://www.soundonsound.com/sound-advice/q-how-can-i-use-figure-eight-mic-midside-miking-setup
 
It is still not perfectly clear here but you mount them both horizontally and each stand needs to be on opposite sides. The vocal mic in the picture looks good.  See how the null of the vocal mic is pointing towards the guitar.
 
The guitar mic needs to angled in such a way as to the null is pointing towards the vocals. But the diaphragm is still pointing towards the guitar.
 
When you do this you will get near perfect separation between vocals and guitar.
 
The only caveat here is that the figure 8 mics are also picking up from the other sides so you need to point this whole setup into a well damped part of the studio. eg the area opposite the singer/guitarist needs to be well damped if possible to stop room reflections from getting in. Once you do this though you will get excellent results.
 
You don't need two mics on the guitar either to get stereo. You can use the mono guitar channel and process it with various effects to create a stereo ambience around the guitar sound. eg Bob Katz's plugin SHEPPi which is free but still only 32 bit as far as I know.

Here's a quick sample of what all three mics on the guitar sounds like....
 
https://soundcloud.com/dj...0/stairway-test-take-3

Yes that's right, I put on a bunch of silence and the end of my track because of Soundcloud's habit of playing other songs right after mine stops. It quite annoying because their songs are usually very loud. So a period of silence is a gift. Yes I know it's a very short clip, but it's only to demonstrate the sound of the mics.