Regretfully, I haven't seen Phantom on stage yet, but know the show very well and saw the movie. Although the film did not live up to my expectations (I never did like Joel Schumacher), alot of critics and musical people I study with hated Gerald Butler as the phantom.
Personally, I thought he did a fine job with the vocal aspect, and he really looks like what I envisioned the phantom to be like physically. And of course Emmy Rossum and the rest of the supporting cast were good. Although Patrick Wilson as Raoul was a little wooden with his acting IMO.