Ok... here is an explanation, hopefully it makes sense.
Basic recording set up is (a) mics > (b) phantom power > (c) preamp > (d) analog to digital converter (aka A/D) > (e) storage aka bitbucket.
The UA-5 is a combination mic preamp, and analog-to-digital converter, and it provides phantom power. Mics go in, and digital signals come out. The original UA-5 is designed to work with a computer. Most tapers have it modified to work without the computer. This "digimod" is relatively simple for someone who knows what they are doing. Other mods can be done to enhance sound. I would say the first person to ask about getting a mod would be "Busman2".
the chain goes like this...
- Mics (with big 3 pin XLR connections) >
- Standard Mic Cables (have female XLR at mics and Male XLR at UA-5) >
- Mod UA-5 >
- Optical cable (about like so:
http://www.ramelectronics.net/html/audio_toslink_cables.html#mini )
with the "square" end going into the UA-5 "optical out" on the back, and the miniplug going into the JB3 >
- JB3 optical in
Somewhere you need a battery for the UA-5. They run on 9V typically (although I just found out they will take up to 12v no problem). The standard solution is a "portable DVD player battery" available on Ebay, with a power cord adapter available at Radio Shack.
The UA-5 has a bunch of knobs and switches, and you don't need to mess with most of them. Just make sure the rate is set to 44.1. You plug everything in, and turn on the UA-5. Wait a few seconds. Assuming your mics need phantom power, push the little phantom power button, and it should light up, indicating it is powering the mics. You adjust the recording sound levels for each mic using the "sens"itivity knobs on the front, and watch the meters on the JB3. Don't try to adjust volume on the JB3.
When people talk about an "all in one unit", such as the Marantz PMD-671, it has the phantom power, preamp, A/D, and storage built in. Good ones are fairly expensive. Currently you are using the JB3 as a preamp, A/D, and storage "all in one unit", but it costs about 1/4 as much as the Marantz, and to some extent you get what you pay for. The JB3 is great as a storage device, but the UA-5 should be a significant improvement as a preamp and A/D. You won't need the Phantom II or mit176 any more. Those are basically built into the UA-5.
Good luck.
<edited: I believe twatts is correct, Hi-Z/Lo-Z button won't matter for XLRs, so I deleted that comment>