I just want to add that mxslick did do a very thorough explanation of phantom power. He did mention that the phantom supply will shut down to protect gear. I'm thinking that most probably keep operating but have sufficiently high output resistance that they just get pulled down to near zero volts across the load.

I also wanted to add that I found these forums by accident. You're an impressive bunch of folks with probably centuries of combined experience. Thanks for making me feel welcome here!!!
Joe