That's a complicated question.....
I would say that 57's are probably used on stage in the USA more than any other mic.
They are very flat and neutral sounding and have great transient response and a sort of natural compression inherent in dynamic mics.
Very resistant to feedback and can take lots of eq and still sound good, that makes a winner for stage use.
I do sound for mainly acoustic bands and I own four 57's and usually use those on stage for the instrument mics. I know what they sound like, what they can withstand, and am comfortable with them. It really depends on the situation. In a nice sounding room where the stage mics and PA are a greater distance from each other, you can get away with using condensors, like in the studio.
They are so much more volatile in a live setting, that's it's tough to use them unless the situation is right. In a bar, forget it. Go with a 57.
People use them in studios all the time, for all sorts of apps. Even vocals! I'm amazed at what a value the 57 is, you almost can't break them either. They just stop sounding as good as they used to and that means it's time for a new one. It's going to sound just like the last one. Less than $100. Hard to beat.
In the studio, it's quiet and there is no PA or stage monitors, so you can use any mic without worry of feedback. So, the better the mic, the better the sound.
On stage, you can only achieve a certain level of sound with the gear you are using, so adding a $10k vintage U47 to use live would be a waste of money since you aren't really going to hear the nuances of such a fantastic mic.
Hope that made sense......Phil