A cable is a cable regardless of what connectors you have. As long as the connectors are going through you might use any connector you wish.
So simply connect them through and be happy. The scheme given above is the standard version. This might help if you ever come across other equipment.
You are allowed, generally, to combine the two GND signals into one in order to save one pin. They start at the same point in the preamp anyway. It might be a good idea if you make a "Y-cable" to connect only to one of the grounds in the 5pin in order to avoid a ground loop.
Theory behind phantom power is very simple:
- take a 48 V well regulated supply
- take two resistors, 6.8 kOhm.
- connect each resistor from 48V to the two signal lines (cold and hot)
- ground of course to GND.
- power (a current) now flows from the 48V source, through the resistors, equally over the two signal lines, through the mic elecronics and back through ground.
- the signal is created by the mic electronics by at the same time pulling a little more current from the hot and a little less from the cold. This of course changes with every change in the signal so a short while later it is less from hot and more from cold.
- the mic pre registers the difference between the hot and cold signal lines and disregards any "common" signals. The largest common signal of course is the 48V phantom power if you measure towards ground which is one way to make a mic pre. (You might measure the difference directly instead if that pleases you). Another common signal might be induced hum from a power cable. This tends to be induced as much in both signal lines, and is hence removed by the mic pre.
- 48V phantom power is a very clever solution on a lot of problmes. As any engineering solution it has some drawbacks, but for just about any sound recording usage it works really well. One drawback is that the mic preamp has to create 48V somehow. This used to be a problem in portable equipment, but with todays IC circuits it is both cheap and easy. Another drawback is that phantom power delivers a little too little energy to efficiently power a tube amplifier. This is the main reason why almost all tube microphones has a dedicated power supply. And, on it goes, all in all though, phantom power is very good.
G.