Yes, "cheap" would certainly be relative if speaking about LDC's which I assumed he was referring to since it was for vocal application. The majority of LDC's typically found in a pro environment would probably fall within the $3000-$8000 price range. Relatively speaking, a mic under $1500 or so would be a much "cheaper" or a "cheap" condenser. In this context I find a high quality dynamic to be a better choice in most situations than a "cheap" condenser. I don't know of any LDC in the "cheaper" price range that will deliver the type of firm midrange presence and muscle that a high quality dynamic like a 441 can and still maintain condenser-like highs.'Cheap' and 'condenser' generally are words, that belong in separate contexts.
And finally, all tracks need some eq'n. Don't be afraid to pull out some 3khz from guitars and drum tracks. This will free up space for the vocals.
I think the single most common problem begining engineers do is not "carve" away a spot for the vocals to sit. Often the get the mix sounding great..and THEN add vocals on top of that. You need to be consious of what place the vocals need to sit. By removing some EQ around 3-5khz you make room for your vocal to be heard. You don't need much. Maybe 1db per instrument may cause enough room for the vocals. Try it, you might find the 4040 will work ok.