Yet another version of "What if Holmes was called in to solve the mystery of the Opera Ghost." This 1994 two-volume comic sticks to the original story with the addition of Holmes and Watson figuring it out, and often quotes Leroux directly, uses elements of Susan Kay, and even a few quotes from the ALW musical. It was very obviously written by a phan. The focus of the story is actually less on Holmes and more on Watson's coming to identify with Erik through the loss of his own wife, Mary. The whole story is told from Watson's point of view.
Here are my favorite images from the comic, as I will not scan the whole two books. Basically, these are all of the Erik parts.
Managers tell Holmes and Watson about their farewell party.
Watson sees Erik at his window.
In Christine's dressing room after she faints after her debut.
Watson follows Raoul who follows Christine to Perros.
Watson attempts to save Raoul.
Erik on the roof of the church.
(Half-punjabbed Watson is saying "Mary?" not Erik)
Erik goes back home to recover.
(This is an interlude not told in Watson's POV).
Erik rants about his new enemy.
Half-nekkid Erik makes plans for the chandelier.
Nadir tells Holmes and Watson about Erik's past.
Masquerade, where the chandelier falls as Christine sings Faust.
Watson hides in Erik's room after coming down to rescue Christine with Philippe (who's just been drowned by the siren) while Nadir, Raoul, and Holmes are trapped in the torture chamber.
Erik still in his Red Death costume and mask.
This is the sexiest drawing ever!!!.
Holmes, Nadir, Raoul and Watson all gang up on Erik.
Erik wins.
But Erik can never truly win, can he?