I'm in the minority, because I prefer BOTH of the DR. PHIBES movies to THEATRE OF BLOOD. Not because of disliking THEATRE, but because of liking THEM a whole lot.

One thing THEATRE gets praised for (like at the start of this thread) is that "gritty" look when it comes to the street people that Lionheart meets. That's understandable, but it's actually a little drawback for me. Even though "technically" it's just barely an early ' 70s film, I have that stereotyped "Mod" image of mid-' 60s to early ' 70s England, so a really unromantic image like that can interfere with it.
(I guess that means I also sort of prefer DRACULA 1972 to THEATRE OF BLOOD - which is REALLY a minority opinion.)