The telephoto lens in this case is one that I expected would not work very well. It is the entry-level 55-200 mm f/4.5-5.6 zoom lens that came with my Canon Digital Rebel kit back in 2004.
To my surprise, it works fine.
Here is the setup.

The mounting adapter shown here is homemade, consisting of a metal screw-in lens cap with a small chunk of aluminum sheet epoxied to the back of it, the front faced smooth and the glued pair threaded to fit the objective. I've screwed the ring portion of an old filter on the back to give a little clearance from the telephoto's front element.
Edited to add: Note that much better adapters are now available commercially. Search eBay for m25 m52 adapter. One current adapter is HERE. The objective itself can be purchased new from Nikon, or at other suppliers as listed in one of our FAQs.

According to my stage micrometer, the combo gives 9.65X, just a hair under nominal 10X. I presume the discrepancy is due to the telephoto not being quite 200 mm, but I haven't checked that.
To evaluate image quality, I compared the infinity combo against a Nikon CF N 10X NA 0.30 on bellows at 160 mm extension. (Yes, 160 mm. Should have been 150 mm, but I didn't realize the error until I had all the pictures shot. Oh well, it doesn't affect the comparison enough to matter.)
I ran two test subjects: a moth wing and some silicon carbide sandpaper. Results were consistent, so I'm only showing the moth wing.
Quick summary is that the CFI combo has slighly less resolution at image center but slightly better at near the corners. It also has slightly lower contrast overall.
Here are full frames, ZS PMax, with areas marked where I'll show actual pixel crops. I've done a slight levels adjustment to roughly correct for contrast differences.

Near image center, the CF N on bellows has more resolution, but you have to pixel-peep to see it. These are actual pixels from a Canon T1i, 4752 x 3168 pixels on a 22.3 x 14.9 mm sensor.

Nearer to the corners, the CFI combo has more resolution, but again you have to pixel-peep.

As an indication of overall sharpness, here is the upper left corner of the CFI combo image at 50% of actual pixels.

This image quality is just fine for anything I want to do. In addition, the combo seems to play better with the T1i's metering than the CF N on bellows does. In LiveView with bellows, M-mode is often not usable because when the exposure is set correctly for image capture, the live view is much too dark. I have to use Tv mode (shutter priority, "automatic" aperture) despite that the camera obviously knows it can't change the aperture. Go figure. Anyway, with the combo, live view in M-mode comes much closer to imitating the actual exposure.
I did run into two issues that together may explain some of the contrast loss. The first issue is that this telephoto combo tends to vignette, so to avoid that, I had to mount the objective very close to the telephoto's front element. Then when I first assembled the mounting adapter, I took the shortcut of leaving the glass filter in place. The result was so contrast so low that at first I wondered if I had fouled a surface with grease or something. Nope, just needed to remove the filter element. Apparently there was enough light bouncing back and forth between the objective and the filter to put a haze over everything. Granted it was a dirt-cheap filter, but I still wasn't expecting it to have that much bad effect. Anyway, I now wonder if part of the contrast loss could be due to light bouncing between the objective and the very nearby front surface of the lens. If so, that could be an argument in favor of keeping the two apart as far as possible without vignetting.
Bottom line is that I'm quite pleased with this combo. It's easy to use (compared to CF N on bellows) and the image looks good. Oh, and the objective cost $29.50 on eBay. What's not to like?
I hope this is helpful. I look forward to hearing more reports about other setups.
--Rik
Edit: added Nikon's part number for this objective.
Edit: added link to commercial adapter on eBay.
Edit: added link to purchase info for the objective