There's one problem I can spot offhand, however, and that is letting a hot guy play the Phantom.

Well otherwise we're left with Raoul, who - in the book anyway - is a big girly man and cries every second page. I've gotta say that I was rooting for the Phantom the whole time, despite his... err... slight disfigurement. I'm all for angsty heroes, but Raoul... Let's just say I was strongly reminded of him when reading the chapters of Harry Potter 5 that involved a certain Cho Chang *cringe*