[sdiy] What is wrong with this circuit?

[mike ruberto]

Something is bugging me about this circuit. It just looks wrong to me.
I think it's the feedback section around M1...
http://s108.photobucket.com/albums/n13/somnium7/gear/?action=view&current=RX-7_Mic_Input.jpg

Shouldn't R12 be connected directly to the negative input?
Does this look normal?

M. A. Ruberto