I think that pretty much covers what it is.
CR 1 seems right.
Advancement looks OK, but I could even see going with "-".
Do we want to convert the fire phantom spell?
Note: I added Druid 2 and Ranger 2 since the Small elemental is also on the summon nature's ally II list. We can drop this if you'd prefer.
I don't mind Druid 2, but putting it on the Ranger list doesn't seem right.
Should we add a note to the spell description as to how their Subservience To Flame means Fire Elementals can easily dismiss a summoned Fire Phantom?
Even though they get Summon Nature's Ally at the same levels as druids?
It can't hurt.
I'm just not fond of extensive spell lists for the Ranger, that's all.
I can understand that reasoning, but this is essentially just a continuation of spells they already have, so I think it should go on their lists.
Any other opinions?

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.