This is a large diaphragm studio condenser microphone, albeit a small one. If you are used to using dynamic microphones for recording you will instantly notice the improvement - the crystal clarity that a large diaphragm condenser gives in comparison.
This is also a very cheap large diaphragm studio condenser microphone. In my experience, normally that cheapness would be reflected in the quality of the built-in pre-amp. I expected a relatively high noise floor - background hiss with the gain turned up to record quiet sources. I have to report it's not there.
According to the included specification sheet, this microphone has a better noise performance than my Audio Technica AT4033. It would be a complex process for me to actually measure if that is actually true, but in using the two side by side I have no reason to believe that the performance is worse.
I have used this mic to record vocals and acoustic guitar, both of which it does very well. It doesn't have a built-in pad, so I wouldn't use it for anything loud like horns. The low-cut switch is internal and requires unscrewing the body - but this is only required for close mic-ing, and these mics are best used with a bit of distance between source and mic (with a pop-screen for vocals).
The included shock mount is a necessity for this type of microphone, and the one supplied does the job quite adequately (considering you could spend the same money for just a shock mount on its own).
If you haven't yet recorded with a large diaphragm condenser, then get yourself one of these. Just remember though, the money you save on buying this (rather than a more expensive model) will have to be spent on acoustic screening once having a decent mic shows up how bad your room acoustics really are. But you'd have to do that if you spent more on a mic.