Re: On-Axis vs Off-Axis
With cardioid (literally, "heart-shaped") dynamic mics, sounds tend to get dull and the volume diminishes unless you point the center right at the sound source. They're designed that way on purpose. This is meant to help isolate the intended sound from any surrounding interference.
Imagine a heart shape, with the 2 rounded parts coming together right at the mic, and the point about 12 inches away. Now, make that into a 3D shape all the way around... that's roughly the coverage area of an SM57 used for close-miking. Within that area, you'll get the greatest frequency range, and the most gain.
For example, some drummers put individual mics right above each drum head, to isolate each drum as much as possible. It gives a more defined sound, with the engineer having to balance out the whole drum kit in terms of volume and tone. If the mic is backed away slightly, you'll get more overtones, and a slightly rounder sound, at the expense of getting some of the other drums (not to mention other instruments in the room) in that particular mic.
If you're miking up a cab, it may help somewhat to hang the mic from above the cab to about halfway down, as if on a string. If there's too much top end, this might take some edge off. (I used to tie the XLR cord to the top handle of my combo, and let the mic come down to between the two 12s.) YMMV; experiment and find the place that sounds good to you, keeping in mind that what works for stage doesn't always transfer to a studio setting.