My first attempt at buying a microphone in a hurry was a SHURE PG 48 VOCAL Cardioid Dynamic Microphone from the local radio shack.

I used it a couple times with both my GL2 and my HV30 and it seemed to work okay.

I cant get it to work with my Olympus DS30 Recorder. IT will record some, but its very distorted? It gives me good audio with my cameras however.

Did i get an improper microphone? Does the lil recorder not have enough power to run it? (I think this is called Phantom power)

I have attached a pic of the mic, and cord setup i have been using.

That's a dynamic mic and it doesn't need any kind of power to operate.

The olympus is probably supplying "Plug-in power" something completely different from phantom power.

That looks suspiciously like a monster cable, and I really doubt they bothered to put in the required electronics to block the plug-in power, so just turn off the plug-in power on the recorder, it's in the menus somewhere.

That recorder can work with either mono or stereo mics and a note in the manual says it can auto-sense which is connected. Depending on how your balanced XLR to stereo-mini adapter cable is wired, the cable may not be suitable for this mic and recorder.
As mentioned, Plug-In Power won't help matters and should be turned off.
Your mic is probably fine but you may need a differently wired adapter cable to achieve success with this recorder versus your cameras. Taking a balanced XLR into an odd mini-jack with a cable that may not be wired the way this recorder needs is the most likely culprit.

TRY an XLR to 1/8" TS adaptor (you have an 1/8" TRS adaptor there)

TRS has the two rings on it, TS only has one.

Yes it is a Monstor cable. Thanks for all the responses.