Foreword:
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"Through trial and error I found that going up to 88x88, the app icon looks like it has been resized with bilinear interpolation (hard edges, jaggies). But as soon as you go above 88, either 89x88 or 88x89, the interpolation looks like bicubic (softness, anti-aliasing)."

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So the above is for N80, and for N95 turns out it works the same way,
I don't know if it is exactly 88x88, but 128x128 works like a charm, its standard and
it is an acceptably small png filesize.

First case, if there is no "top-left app icon" or standby icon relevancy:
simply install jar with replaced iconimage.png 32bit 128x128 only
(this is the best app shell menu icon for photo/cartoon like icons,
even transparent with alpha blending and aliasing (java icon!!!)
This 128x128 png for icon solution gives miraculous results for 99% of the java games, apps
and I'm not exaggerating!!

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otherwise:
similarly install the jar with:
replaced iconimage.png 32bit 128x128
(n95 makes the best icon out of big png-s, if you try
normal (48,50 or 55) icon size png, then it will ruin it)

then extract 55x55 bmps from mbm with mbm-wizard,
from !:\Private\10003a3f\import\apps\NonNative\Resource \
and

for icons with perfect circle(s) in them:
for app shell menu use only, resize (in gimp or pshop) the 55x55-s to:
image0.bmp 24-bit 47x47
image1.bmp 8-bit 47x47
make mbm
then overwrite private mbm
(n95 always creates beautiful 55x55 bmp mbm-s from the big png-s,
but in the app menu shell it displays it only as exactly 47x47,
with an awfully crap algorithm, that distorts circular shapes,
to ruin the icon. that is why we replace the mbm with our 47x47 scaled one
(preferably cubic scaling), and then n95 will display it beautifully)

for standby menu use only:
for any type of icon, resize the 55x55-s to:
image0.bmp 24-bit 32x32
image1.bmp 8-bit 32x32
make mbm
then overwrite private mbm
(same thing as app shell menu, but here n95, on the fly scales (ruins)
the icon to 32x32, (NOT 36x36), so preparing the mbm
with exactly 32x32 sized bmp-s will give us perfect icons.)

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for nice "top-left app icon", install jar with this:
image.png 32bit 60x60
and then overwrite private with one of our previously prepared mbm-s,
(or with one that was previously created by n95 from big png)
for smooth appshell menu or standby icon whichever needed.

(for internal "top-left" display the phone uses a secondary copy of the jar somewhere within the system, regardless of the mbm-s, therefore it is not
good to use big png if internal icon is important, as it will display cropped,
so just install it with 60x60 png for nice top left icon, and then replace the
mbm with something you prepared previously)

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you can't make the best looking app shell menu and standby icon at the same time, you need to choose.

the numerical values 47x47 and 32x32, respectively, are paramount importance, deviating by only 1 pixel
will result in distortion

it took me all night to experiment this, so use it with confidence, it works

later maybe I will post comparative screenshots, or step by step tutorial for mbm-wizard and the whole process,
but frankly saying, if you know what this thread about, then you probably have some experience in
mbm making and so on. But we will see, if there is request/demand or I will be just in the mood, then I will do it.

good luck