With a micro-controller, with such a high input impedance, wouldn't the current needs be minuscule?
It depends on the speed of your signals. With lower currents the parasitic capacities need more time to be charged/discharged (thus the edges will be slow).
With slowish signals you may use, say 50k pullup at the mcu input (opto-collector wired to the mcu_input, emitter to GND), with 3.3V mcu_Vcc the Ic=67uA.
With CTR=50% min the led diode resistor's value Rf should be lower than
If = 67uA / 0.5 = 134uA
Rf = (Vinp_min - Vf) / If = (5V - 1.5V) / 134uA = 25k (to be on the safe side I would go with 4k7)
Check:
5V input .... If = (5 - 1.5) / 4k7 = 0.75mA
34Vpeak ... If = (34 - 1.5) / 4k7 = 7mA
PS: also mind the diode's reverse voltage max is 5V, thus you need an anti-parallel diode at the input.