the resistor generates thermal noise proportional to it's value. bypassing it shunts noise voltages to ground.
there are various ways of measuring impedances. all of them will show various degrees of frequency dependence, so for general purpose audio, the measurement is usually done at 1khz. an indirect method is to excite the microphone with 1khz with the output open circuited (not exactly simple with an electret), and measuring the voltage. then a load resistor of known value (usually equal to your "first guess" of what the output impedance is) and measure the output voltage again. if the loaded output voltage is half of what it was unloaded, then the output impedance is equal to the load impedance. if the output voltage is different than half, you can calculate the output impedance by solving the voltage divider formed by the output impedance in series with the load resistor.
going with discretes for a mic preamp means more components, more pc board real estate, and no common mode or power supply rejection (i.e. you will end up with more noise), and if you make a discrete op amp, you will have to contend with things like compensation caps (to keep it from becoming an oscillator), input bias currents that have to be nulled out, etc... a monolithic op amp is simple, and effective, and takes up very little real estate, and generally uses less current than a discrete preamp. also in a noninverting configuration you could have an input impedance of up to 10E+12 ohms (for an LF351).