As I have done for my past three iPhones, I've put together a video that shows how well the iPhone 5 works with various wired and wireless microphones. You can watch the video below, and you can read through my comprehensive day-one review of the iPhone 5 in the Reviews section.
Under the video below, I've listed all the microphones and adapters I used in the video, with links to Amazon for each. (See my full article on iPhone and iPad microphones and audio inputs here).
Microphones and adapters used in this video: