I have a number of Sennheiser E835s which I frequently use for live vocals and instruments. I also use Shure SM58s and 57s and can safely say that the E835 beats both of them hands down. The Shure mics are by no means terrible, they do the job well, but I still prefer the sound of the E835. The E835 is comparable in price to an SM58 though I think it sounds much less boomy and muddy. I would say that an E835 will blow away an SM58, its about equal in sound to a Beta58 (though the Beta58 is roughly twice the price.) The smoother top and a little fuller low-mid of the E835 when compared to a SM58 makes it one of my favorite lower price vocal mics. The E835 can also be used on instruments with good results. If used on a snare drum for instance, when the drummer happens to hit the grill while playing no harm will come of the mic, unlike an SM57 which would break easily in those circumstances, (trust me, I've lost a couple of SM57 grills due to over energetic drummers). The Sennheiser mics are all built like tanks and can be subjected to lots of abuse without any adverse effects.
Pick up a couple of the Sennheiser’s and see for yourself. For the price they won’t let you down.