I've wanted to see Phantom of the Opera for some time as well as see a show in Vegas so I knocked both those things off my list.
It was good but not mind blowing. It's a personal problem of mine but I don't follow story lines that are being sung very well, so when I found out 45min of dialog were taken out of this production I was saddened. The theater looked small enough that there wasn't a bad seat in the house but I was in Row D so I don't speak from experience.
The pyrotechnics were a nice touch.
The scene where the two co-owners are about to go into the masquerade and a huge prop is used for about 30 seconds, I found that a little amusing.
I enjoyed the show but reading some of the reviews it may be worth it for me to see the full version either on stage or video.
***Edit***
I watched the 2004 production of Phantom of the Opera on DVD a week after seeing this performance. The extra dialog really did help tie the story together. With that said I would add that this show is still really good but if you haven't seen Phantom of the Opera before, you may want to not have this be your first impression.