I have an M-Audio Delta 1010 card and have been skimming previous threads for mic recommendations.  Some of you have made mention of using a pre-amp.  Aside from supplying phantom power, what are the advantages to using a pre-amp?  I'll be using the mic for VO/narration primarily.  If the benefits include adjusting tone, can this be accomplished with software EQ?
Heck, if you're gonna respond, why not throw me your best $300-$400 mic recommendation too.
Thanks all.