Graham Phantom damping fluid level.

Frank,it is going to be cartridge dependent,AND requiring careful listening at different fluid settings.No getting around it!
Yes... start with minimum amount(at bottom of squared off area)is the way to go,but you must add VERY small amounts at a time.Then replay your reference LP's and listen for detail retrieval,bass impact(not soggy,or too much fluid),and high freq extension.
When I say add small amounts at a time,I mean REALLY tiny amounts.Here the Phantom does not need to have actual "pinhead" amounts added slowly(like the 2.2),but you MUST go slow,and with small enough additions to not even see much more fluid height,on the bearing square portion.
Good luck.

BTW,I'l be doing the EXACT same thing this week,as my own Phantom has just come in to my dealer.I used to have a Graham 2.2.Another fine performer,yet more sensitive to fluid than the Phantom.

Sam, Are you saying you have a fluid level 2mm high on the square? I am looking to extract the tightest bass possible from the Koetsu RSP.
Sirspeedy, I hope to hear your thoughts when you have yours setup, fluid level and all.

You know there is an updated bearing/cap for the Phantom . Also every time you remove the bearing cap and play with the damping fluid levels , the tone arm needs time to resettle . Does anybody know how long?

I have a VPI arm with damping ability. I add the oil one drop at a time and listen. Deapth, width, and air is added with every drop, then BAM it all falls appart. I take a Q-tip to remove that last bit of oil, and Im satisfied.

Frank/Jeb....I have a dear friend who's Phantom I helped to set up,so I am pretty familiar with it already.I,m going over there tomorrow,btw,to pick up my new Phantom.
The fluid does not take that long to settle.A couple of sides of an LP maybe.Unless it is a "new" installation.Then maybe an hour,I guess.Not a huge concern.
DO NOT use a Q-tip.Firstly it takes off too much fluid,at a time.Secondly,there exists the possibility of "cotton fibers" getting into the fluid.I don't think "they" pose a big problem,but who needs it?
I would use a tooth pick.It allows for definitive amounts of fluid to be added or subtracted.SMALL amounts at a time!!
Also,I would hope one knows where the best VTF and VTA are(for their particular cartridge),when voicing the fluid!!This impacts the amount of fluid to be used.The VTF,and VTA are somewhat of a moving target when playing around with the fluid.
It is best to re-check those parameters after taking out,or adding fluid.I'd start at the lower recommended VTF range,and go from there.From experience,I cannot see where the fluid amount would be much more than half way up,the squared portion of the bearing.I don't think it really needs to be more than 1/3,at most,but I can only speak from Transfigurations Temper-V,and Orpheus.Yet,last month Bob Graham told me to go very low fluid with the Phantom.There is NEW fluid,but not a bearing cap,from my info.
Once you are in the fluid amount ballpark...DON'T STOP THERE!!!...To many "relatively new to vinyl" are happy with "good sound",but one can get GREAT sound with a little more "hands on" playing around!......Overshoot,AND undershoot the fluid parameters(regarding musical performance)so you know the exact spot where the fluid should be.But remember to re-check VTF and VTA(experiment a little too)after setting this.It is really NOT a big deal,so don't be intimidated!
This arm(AT MY FRIEND,who has the Transfiguration Orpheus)exhibits tremendous bass dynamics,while retaining superb/delicate high freq performance."IT" truly has NO sonic signature,once gotten "right".One reason why I sold my "still superb" 2.2."That" arm DID seem to have a subtle resonant quality,which rides along with "some" music.I still loved it though.
BTW,the dialing in of the arm,is NOT going to take one listening session,because different LP's exhibit different musical characteristics.So you might be pleased for some discs,but may need to refine the tuning to voice for a wide range of LP's.NOT hard,and actually fun,if you don't let yourself get intimidated.
Good luck