Seldom have my expectations been as often derailed as in The Phantom Lady. The plot--while a bit farfetched--is never boring or predictable. Although it's a smaller film than say, The Maltese Falcon or The Big Sleep, it is immensely satisfying.
Ella Raines is the real stand-out here. Not only is she great to look at (think half-way between Veronica Lake and Lauren Bacall) she also acts circles 'round the two leading men. Luminous, expressive yet subtle, she is perhaps a better actress than those two icons, if slightly less perfect-looking than Lake and a bit less magnetic than Bacall.
Thomas Gomez turns in a surprisingly complex and interesting performance, but don't expect too much from Franchot Tone. Although his acting abilities need no defense, he didn't do much with this role.
Sure, there are plot holes, a couple of contrived turns, and at least two ridiculous performances (Elisha Cook and Aurora Miranda) but all B Noir has its faults, and this one wins by dint of its unpredictability and pacing, and some great cinematography. Oh--and miss Raines.