The Graham is great for getting the basic setup reasonably right, but, I still think it pays to use another protractor to check the setup. The jig used for overhang alignment is a bit less than precise. For one thing, unless the height of the cartridge is exactly matched to the jig, you are only getting an approximately correct setting. I also think there is just a bit too much slop in the hinge of the jig itself to make me super confident in the accuracy of using the jig alone. That said, I have set up the Phantom using the jig and got alignment that agreed fully with a Feickert protractor.
The Basis mirror tool is pretty easy to use, and the arm is not that hard to set up well. I also got a great match to a Feickert protractor. The hardest thing to get right is the VTF because of how difficult it is to move the counterweight to make a fine adjustment (I should have lubricated the shaft first). In that respect, the Phantom IS easier.
Still, I don't think there is a big difference between the two in terms of ease of setup. Both are a breeze compared to something like a Shroeder arm.