For the price, this is a great set of 3 mics, perhaps for karaoke bars or other places where cheaper mics are required.
It features everything a mic of this price should; an on and off switch, a protective grill, and also comes with 3 mic stand attachments. The case it comes with is also a nice touch and keeps the mics nicely protected.
The sound is not comparable to an SM58, but you would not expect that from such a cheap set. Instead what you get is 3 decent sounding mics with a fairly rounded sound. With a mixer you can push the eq to help the sound change.
The quality once again isn't on the same level as the "industry's standard". The grill is a little flimsy but would protect the mic from one or two falls before you needed to change it. I was a little skeptical about the switch, but I've had no problems with it in 7 months so I guess its fine!
If you are looking for a decent mic set for cheap, this is my choice.