I actually think he is awfully overrated. The sound of his voice is harshe to the ears, in my opnion. On the dream cast DVD, his acting was not great at all.
I'm somewhere in between myself... I was never crazy about his Phantom, or some of his song choices on his PBS special. I do recommend his new CD which has some great jazzy arrangements on it of some good songs. I'm also a big fan of his Valjean, which I unfortunately never got to see live. I recall reading that he was asked to come back to Broadway to close out Les Mis but had some type of illness in the family which made him decline.
Should he wind up back in NY again doing something, I'll be there...
Just as a thought while we're discussing Colm: I think he made a really awesome Che on the Evita concept album. Now, *there* is a show that will make a great revival one of these seasons, if a good director gets attached.
Colm almost did take the offer to close Broadway, but he didn't want to be in the position where he'd have to fly back to Ireland at a moment's notice. (Due to the family illness Rob already brought up.)