An old thread somewhere else talked about how to wire up an external mic for input to the
N95. I put together a video as well as a blog post complete with links to the appropriate connectors you need. You can get it done with the A/V cable that comes with the
N95, a twist-tie, and about $7 for two adapters at Radio Shack.
Your mic does need to be self-powered, though; you can trick it into recognizing a dynamic mic, but the sound is pretty lousy.
N95 external mic how-to...