Point of No Return - When Does Christine Realize it's the Phantom?
During "The Point of No Return" in the Royal Albert Hall performance, I don't think it's clear as to when Christine realizes it's the Phantom under the hood. Early on she backs away in fear, but then goes right back to singing her part like she thinks it's just part of the show with Piangi on stage with her. She tries to run away at another point, but then seems like she's unsure again.
I much prefer the way it was staged in the 2004 film, where Christine knew it was the Phantom immediately and the whole scene became this tense dance of seduction where she seemed torn between the Phantom and Raoul. I know this differed from the traditional stage production, but I thought even in that Christine typically realized the Phantom was there earlier and the song took on more meaning because it was about her sexual awakening, not just the performance as part of Raoul's trap.
The version of "Point of No Return" at Royal Albert Hall just seemed kind of awkward and confused.