well for acoustic guitar I use an AKG c 1000s. great mic for acoustic guitars. It does ok for background vocals and choir. This mic will not break the bank. Some of the best mics for acoustic guitar seem to be AKG 414, Neumann U87, Newmann KM 84 and KM184, AKGc3000 and AKGc1000
For electric guitar the trusty sure sm57 is a standard mic, Sennheiser md-421 also works good. I used my AKGc1000 on guitar cabs and good results as well
For bass I just use a direct box
For snare drums the sm57 does a good job, AKG 414, Neumann U87, Newmann KM 84 and KM184, AKGc3000 and AKGc1000 all work good too.
My favorite mics for the bass drum are AKG D-12 and D112, and the Sennheiser 421
When I record Acoustic guitar I run the mic through a preamp. These can be inexpensive and they add a great deal to the sound quality.