as a matter of fact. for 270-300 (includig tax more like 300) you can have decent to good quality man..
http://www.sweetwater.com/store/detail/FastTrackPro/
^ M-Audio Fasttrack Pro (with phantom power switch and preamps) $199
MXL 990 (about 50 bucks to 70 bucks depends on where you buy it)
find a nice quiert place to record, and you will have good quality. Opey on RB uses that mic, of course he has a fuckin mbox with protools, but you'll have pretty good quality with that setup yo.
and its only 300 bucks.
just save up and buy something worth buying