"Thanks for the series of tips on XLR and TRS wiring schemes. Following up on your discussion of alternative wiring for balanced outputs and inputs, can the addition of phantom power complicate the use of translating cables? It seems that if the mic uses phantom power, the polarity of the power to the mic is necessarily reversed, which could cause some problems. Is there a safe way to do this using passive components, or is a unity-gain phase reversing amplifier required?"

Phantom power is not sensitive to the polarity between pin 2 and pin 3 because it is just an identical voltage on each pin referenced to ground/shield. There is no electrical potential between pin 2 and 3 so their polarity does not matter.