Maybe posters should identify themselves as SSE collectors, thereby giving you the opinion of those that already have them. The decision can't be made by us. Really you can't go wrong with either.
I agree with Bannister, as I only have the coloured versions. If it were colour I'd go with the Wolfman. He is the more iconic. The Phantom has the more elaborate costume. I had a friend come over and they didn't even recognize the Phantom.
You might want to take edition size into account, and buy the lower edition size, thinking that will be harder to find later down the track, as you are only just getting into this line. The Phantom is 250 and the Wolfman is 300. Having a lower edition size wont necessarily make it harder to find. The Wolfman, being so iconic, may mean it is the one collectors will snap up first.
Don't forget that SSE London after Midnight, edition: 250, all three are half price at the moment.