[MikeBmusic]

To echo what alohacrhis said, room treatment will get you a lot further (to start) than spending the same amount of money (or more) on different microphones.
I built 6, with 1"x4" frames, using Roxul insulation as its a little cheaper than the OC703. I got my burlap at Walmart, and a staple gun at Harbor Freight for $6 including a ton of staples. total cost (because it cost me $70 to ship in the insulation - could not find a local source) was about $250. I've got them mounted on walls and ceiling with eye hooks, so they are easy to move around or stow away. I've got insulation for 4 more 4" thick traps, just waiting untilk I have a new desk built and some room rearranging before I do those.
Moving blankets - meh ... You can get them for $4-6 at Harbor Freight. You can mount them on the wall to rid yourself of some flutter echo, but they don't do any absorbtion of the low and mid-low frequencies that muddy up your recordings. I experimented with one and in the room I tried it made no difference in the recorded sound at all - YMMV depending on the room.