Throw out your SM57s there is a new mic that kicks ass for micing up a guitar cabinet. It is the Audio-Technica ATM250DE Dual-Element Inst Microphone which is two mics in one( condenser and dynamic) enclosed in a single housing.
I just got this and put it up against my trusty SM57 which I have used for years and the sound has much more range and almost a 3D effect or a stereo widening effect. Previously I could only get this using two seperate mics and then had to spend A great deal of time positioning them just right, not so with this one. I would defenitly try this one mic'd up threw a PA in a live venue. It can also handle very high SLP so no worries there either (148 dB SPL).
As far as recording with it sound much more full and 3D than the Shure mic. And becasue the two mics are already mounting in perfect phase you will not ever have to deal with getting that set up right. Here is a shot of the two mics inside the housing.
Now you will need two inputs into your mixer or preamp with these and of course phantom power. For recording you will record the guitar on two channels in perfect phase which will allow some cool panning. The two tracks give a wide stereo effect that is just class.
Check it out, a great deall for $299