I had the unique perspective of seeing this event live at the Royal Albert Hall on 2 October, the same evening of the original screening. I also have the history of being involved with "Phantom" for almost 25 years, as an associate scenery designer to the late Maria Bjornson. I wanted to see the screening to compare it to the live performance.
I believe the version screened is first rate. It captures the feeling of the live event in the auditorium, live orchestra and all the gifted performances in wide shots and close ups.
The sound of the score is excellent, and the clarity of the voices, especially the voice of Sierra Bogness as Christene, is superb. With great camera angles and editing, the audience gets to see in close up the artistic details of the costumes and wigs, as well as the detailed nuances of the performances. Of course, this adaptation of the show does not replace the thrill of seeing it live in a fully realized production, but as a record of the event : 5 stars.