Wow.  I've never had so many responses to a post before.  Guess the topic of one of Andrew Lloyd Webber's musicals really gets people going. 

That being said, watching the movie (which is slightly different from the on-stage version) is really like getting the best seat in the hypothetical opera house.  You get to see the actors' faces and expressions clearer than the stage version.  That being said, in the movie Christine & The Phantom had more chemistry than Christine & Raoul.  If you don't believe me check out the scene in the movie in which Christine and the Phantom sing "The Point of No Return." 

I've never seen The Phantom of the Opera other than with the travelling cast.  I wish I had the opportunity to have seen the musical when Michael Crawford and Sarah Brightman played the leading roles.  Iconic.

I did see Miss Saigon and Beauty & the Beast in London's West End - both of which were terrific productions.  I've seen Cats and Les Miserables, but my favorite is Phantom.  Especially the first scene in which the chandelier is once again lit and lifted as the story begins.  Gives me goosebumps.