I definitely prefer Lionheart above Phibes.
I watched this movie for the first time when I was about 14 years old. Later, when I was a student, we had to go through almost any Shakespeare play, and over the years I had been unable to refrain from chuckling any time we came across one of the death scenes alluded to in Theatre of Blood.
Well, our teacher was not ony a renowned Shakespeare scholar, he also had a sense of humor. When we were discussing Henry VI. and arrived at the execution scene of Joan (my favorite death secne), he blatantly ask me why I was having fun.
I told him, and he started laughing too, because he knew the movie and enjoyed it as much as I did.
The soundtrack is great, too. Unfortunately, there is no official release and the promo is very hard to find.