OtheroneK,
I think they send 9V or so to the capsule. It can be less too. The 11-52V from the phantom power is reduced inside the adaptors.
Chuck in this forum used the AT8533 with his "Franken-Naks". They dropped the output by about 10dB. There is an balancing output transformer inside the AT8533 (just like the one inside the Nakamichi CM-100 and CM-300). Chuck got some adaptors from Naiant, that have an actively balanced output giving a hotter output.
All these adaptors should be close to the capsule as the cable between the capsule and the adaptor is unbalanced.
Roger