I use this cable.
http://www.hosatech.com/hosa/products/XVM-105M.html
My basic setup up is a Sony MZR 909, Rode NT3 mic and the above cable. I have been getting great results!
If a mic comes standard with a 1/8 (3.5mm) plug, as a rule it has been built for the "cheap" market, and won't sound as good as a proper mic.
You get want you pay for! Why spent a lot of money on a minidisc recorder and buy a cheap mic? You might as well buy both cheap! The sound quailty you record will ALWAYS be that of your weakest link. for example a $10 mic recorded on a $500 MD will sound it was recorded on a $10 mic, which will be noisy. You might as well buy a $10 MD to go with your $10 mic becasue it is basically the same... you get my point.
IMHO, spend at least 3/4 of the price you paid for for MD on a mic. (eg MD costed $100, spend at least $75 on a mic). That would be my basic rule if buying a mic. But it all depends on what you are recording and how good you want it.