I just got back from the cinema and thought it was great! A lot of other versions, stage productions included, lack a phantom with any humanity. Gerard Butler did a wonderful job on making the Phantom a real man, instead of just some ethereal ghost flouncing around the Paris sewers.
I also liked the variety in singing voices: some edgier (the Phantom), some less trained (Meg), some over the top (Carlotta), it added a realism.
This is definitely going to be a DVD and soundtrack purchase for me, if I can get my hands on them.
~ShyViolet
ps - Gerard Butler is sooo sexy, but then again I have a thing for Scottish men.