I hate to sound like a total queen, but the thread didn't specify by a Phantom, so I have to say I love Barbra Streisand's version (with Michael Crawford). It is so gorgeous and lush and very erotic. I liked hearing a woman sing after all those years of just men.
"The sexual energy between the mother and son really concerns me!"-random woman behind me at Next to Normal
"I want to meet him after and bang him!"-random woman who exposed her breasts at Rock of Ages, referring to James Carpinello