While it's possible for a dynamic mic to go bad from age, it's unlikely. I think it's more than likely it's just a terrible sounding mic. Specs list the MKII version as having a low frequency response down to 100Hz which is pretty poor. Find or borrow an SM58 and compare. If that sounds off, could be a mixer issue. As for the hum, it could be a ground loop or a board problem. Quickest way to found out if it's the board is to unplug everything except for power and plug in some headphones. If you have a buzz then, the board is faulty. FWIW, I find that Mackie mixers don't age well. And if they're left sitting around with little use, the pots and switches oxidize from lack of use and get noisy.