Yeah, it looks good. With big-budget musicals like Moulin Rouge and Chicago having so much success, I figured this one wouldn't be far off. It's got just the right mix of romance and exquisite period costumes on one side, and evil, deformed madmen living in undergound labyrinths on the other.
And (this being ENWorld and all) I've always thought that the Phantom would make a great D&D villain, as an epic level evil bard.