Rating: 3 / 5
I've owned a MH Phantom 32 for two years. I've used it in a variety of conditions from 12,000' to sea level and at temps ranging from 60 down to around 32.
Here's how I would rate it along several dimensions:
5........Footprint (packs super small)
3........Warmth for Weight (this is a 40 degree bag IMO)
2........Accuracy of temp rating (again, for me, it's a 40 degree bag)
3........Value - I think there are several options in the $250 range for a 40 degree bag in the 24 oz range.
2........Breathability - if just slightly too warm out, I'm a sweat box.
3........Versatility - no footbox zipper, half zip, and lack of breathability make this something you don't want when the night is too warm. At the same time, I need more layers when it's colder than 40
2.......Water repellency of the shell. Just doesn't seem to be very repellent.
I know this bag gets rave reviews across the board, and there is something to be said about consensus in numbers. For me, this is a 40 degree bag that has limited upper range use. To that end, I find it a little over priced and under featured. I've been using it for 2 years because it gets the job done and it packs small. It's not my favorite item in my pack.