I would never say that "Rent" was no longer relevant." AIDS still exists, and there is lot more to it than just AIDS. It resonates with social themes that are very relevant to today. Some accuse it of feeling dated, but it takes place in 1989. It shoudl feel a bit dated. (though there were a few anachronisms.).
As for "Phantom," I am a big fan of the original novel, and it was the best telling of the story I have seen. As I said before, the singing in "Rent" was certainly better. (I will say this, though - if you're talking about crowds in SLC, "Rent" is already gone from the city's biggest theatre, whereas "Phantom" was held over for something like four weeks after they were scheduled to get rid of it, after a run of roughly four months. This is, of course, not really a reflection on the film's quality as much as it is the fact that it connected with local audiences, and in "Rent"'s case, well, let's face it: it's not a Utah kind of movie.
I liked Angel, I just didn't love him the way they wanted me too. I never cared anywhere near as much about him as I did about "King Kong," and while both actors were terrific seperately, I felt no chemistry between him and Collins.
Again, I really liked "Rent."