I have played several games with the phantom using Echo. Echo can pull off some crazy moves, and is hard to kill. Plus I have been using rebel captive on it.
What I have seen is players that fly a close formation or spread out to far get murdered. Players that can fly in between do the best because if they need to shoot the phantom most of the time they can plus they can still deal with the other ships. A single y-wing with an ion turret is great against the phantom. Not being able to decloak is the worse thing that can happen to a phantom. IMO the extra movement from decloak is what makes the phantom great.