I love Phantom of the Opera and the movie by Joel Schumaker (who tortured us with Batman and Robin) was pretty good and pretty true to the original play. Glad you liked it...I was big into it when it first came out, I did a whole project for it for band in middle school.
I love the play, but that movie version was god-awful. There were multiple times where the lip-synching didn't come close to matching the singing, and it killed the whole suspension of disbelief. Technically it was good, but I just couldn't get past the 'singing'.