Ribbons by nature have a lot of proximity, so it's usually advantageous to back them up from the source a bit. Lots of the vintage Hendrix stuff was captured by the M160 backed off the cab.
What's nice about them is their smoothness in the top-end, which allows for EQ after the fact without increasing hi freq "fizz" etc.
The thing with M160 is that you may need to EQ a little to gain more presence in the mix. It's good to play with it direct, as you have not too much high frequencies, but when you have to put it in a mix it may be more difficult than a SM57 or a condenser microphone.
To my taste it is better to use the 160 in addition with another microphone, dynamic or condenser.