As a first post, I thought I'd throw down a simplified version of my drum miking method. It's not really that different from what's been discussed here, but I'll probably explain it a different way. A bit on my background (so you don't tune out right away, or something) I've been the head engineer at one of Atlantic Canada's oldest professional studios for a number of years now. I've recorded everything from jazz to metal.
Step 1: Mic selection
If you're lucky enough to have a mic locker, you've got a choice to make: do I want to use large diaphragm condensers or small diaphragm condensers on the overheads?
Well, LDCs, by nature of the diaphragm size, react slower to transients (the attack part of a sound), whereas SDCs react faster. What this means is that SDCs generally tend to be brighter and more "realistic" sounding. BUT, if your SDCs are cheap, it'll really emphasize the brittle high-end that's a feature of many low-end mics. LDCs "glaze-over" the transients somewhat. If I want super bright "radio" drums I'll usually go for SDCs, and LDCs for more of a "vintage" sound.
Don't go any farther in selecting your close mics until you know what your overheads are doing. We'll come back to this.
Step 2: Overhead placement
Cardioid mics "hear" mostly what they're pointed at. An obvious point, but an important one. I'm going against-grain here and will tell you to ignore the 3 to 1 rule for drums, it doesn't work for drums. Phase (time) differences between the mics are the essence of a wide-stereo image. NEVER go for "sight" over "sound" if a rule is in disaccord with what you hear.
I always start (audience perspective) from the left side of the kit. As you get to know your room and your mics, you can use your imagination to guess the kit vs. room sound as you raise the height of your overheads. I like my overheads fairly low (maybe 6-10 inches above the cymbals, 20-inches or so from the toms... somewhere around there - YMMV). So, back to our cardioid mic: take a drum stick and hold the stick so it extends down the "line of sight" of the mic. as if the mic was a laser-beam, point the microphone where you'd guess there's a nice balance of left-kit items (toms vs. cymbals, individual cymbals, toms, etc) and take a guess at how high up the mic needs to be.
So far we have done two things:
1. Guessed at the kit-balance-point for the left overhead
2. Guessed at the height (direct vs. ambience) of the left overhead
Do the same thing for the right overhead. Use the stick to help visualize the line of sight of the mic... balance hat, tom 1, right-side cymbals, etc. I could care less about keeping the snare in the middle of the image. Snares (usually) aren't in the middle of the kit, so I don't sacrifice kit balance to make it that way - the close mic will pull the snare into the centre anyways.
So, we know have a basic line of sight and balance point for both overheads.
Step into the womb (control room) and record the drummer playing. Listen back for kit balance. Think, what seems weak? Is tom 3 too quiet, is the hihat too loud? etc. Move the line of sight of the mics to achieve a better balance.
So, the mics are balanced. Now we adjust our "lense". Pretend there's a string from the drums, into the mic, and out the back of the mic. Moving the mic along this imaginary string (so we don't change our "balance") in or out, we can create a sense of closeness or depth, depending on what we need.
When the band says "wow, are we only listening to the overheads!!??" your job is done and you can move on. Rule no. 1: you are not allowed to mute or take the overheads out of record from this point on. You always must hear your close mics against the overheads.
Step 3: Everything else
As the drummer plays, listen to each kit element and think about what you need to reinforce. The kick, since it's the furthest thing from the overheads, will probably sound weak. Well, let's get a kick mic on the go. Pick your favourite (I like a Shure Beta91 and Shure Beta 52a) and position it so that it fills in what's missing from the overheads. Do this for every kit element that needs it (cymbals included).
A note about cymbals: even-order harmonics (ie. good sounding harmonics) extend vertically from cymbals. odd-order harmonics (ie. bad sounding harmonics) extend horizontally. So, when miking near cymbals, be aware that they sound goddamn horrible from the sides.
A note about recording bass: have the drummer play while you get a bass sound. I like to have the bass head on a chair right next to me in the control room so I can play with the tone to match it up with the drums.
If you work this way you'll need to do pretty much nothing to the drums and bass to get them to sound awesome. Never press "record" until you're happy with the sound you're getting. Also, if your room, player, or instrument sounds like crap you are SUNK. Fix those three things before you put up mics. Your job is to capture the sound of an instrument in a room, if the instrument or the room sounds bad, you can't do your job properly.
Thanks for listening, guys. Hope my ramblings helped.