Yes, I am indeed one of those "Phanatics" as they're called (though I'm almost starting to think we have a bad reputation...), and I personally would like to say that I found this movie rather enjoyable. I think it could have done without the modern sequences altogether and stayed in the one time period, and yes, a few scenes are a bit cheesy or cheap. But believe it or not, I think that Robert Englund did a fairly good job. My favorite Phantom will always be Michael Crawford, but when one compares Englund to Gerard Butler's Phantom (even using Crawford as the standard), he practically blows that little pansy-ass out of the water. It's refreshing to see an old, decrepit Phantom again, with more subdued, majestic style than Butler's gaudy, emo character. Also, this time the Phantom isn't scared to spill some blood, restoring some respectable fear for Erik that the 2004 version kills. Englund's voice--at least when he isn't screaming--seems surprisingly perfect for the part, and all film critics alike will see that he can indeed act, but has merely been restrained by his previous Freddy typecasting. All in all, I'd say this film makes an excellent counter-balance to the 2004 film, and both those who like like Chaney's Phantom and Crawford Phanatics alike will definitely enjoy it.
