I still have the M-Audio 1010LT and I can say that, for the money, it's a good choice. But if you don't need more than 1 or 2 inputs at the time, you are probably better off with something else.

See that it has good and tested ASIO drivers. That is a necessity. It's nice if you have included mic preamps but keep in mind that even a 150$ external preamp will probably sound better.

As for mics, the differences between SM57 and 58 are really minimal, so in your place I'd save for a condenser mic for vocals, along with a low cost external preamp possibly. There are often packaged deals for mics/preamps you can look for.

Good luck with shopping!