hmm, the two wires connected to the mic in the picture will be ground and signal. err, not sure how you find out which is which - maybe someone else knows?. (see if you can look at the circuit board, and work out which wire is connected to ground).
as for power, i'm not sure what power the mic will need. It will probably be +5v, although I suspect that it will be fairly tolerant of a range of values. Again, i'm not really sure on that one. (if you want to check the voltage on the power connection on your computer, put a 3.5mm plug into the mic socket, and measure the voltage on the power connection)
am I right in thinking that a 78L05 gives 5v from a 9v input? I can't remeber - a 78L05 type IC will be perfect, but the question is where to get the power from? Maybe you can get some power from the phone? For the third time, I don't really know the answer!!
Sorry for being completly un-helpful, maybe someone else can help out here.
Tim