My thoughts to fix Phantom
Keep his 110 HP
Invis recharge rate is 10 secs
Less visible with cloak (before the patch)
When cloaked he should only take 40% damage to his health.(maybe slightly lower) Still depletes the armor bar.
MELEE
Melee needs to be normal (before patch) Besides Phantoms heavy attack, that should be harder to move around. NOT stuck in one position though.
Chopper should stay +20% (I believe the 15% just hurts the stiletto.)
I think Phantom should have his katana be his primary and not have the SMGs. He should of Machine Pistols for his secondary.