The Phileas (my second fp) just showed up, today. Definitely a lovely pen (might have to get it in red, too). However, the fine nib writes wider than the medium nib of the Namiki Vanishing Point (I think someone mentioned that to me on these boards).
I have to say, I like the VP more than the Phileas. For one, I've got this thing about plastic. I'm just not too keen on it as a material for pens. The Phileas is certainly a solid pen, but the VP looks so much more substantial, being "chrome" (aluminum, or whatever it's made of).
I'll definitely continute using the VP for personal correspondence and writing in my journal. Perhaps the Waterman will find its place drafting short stories and suchlike - it seems to draw a cruder line than the VP, but maybe that's down to the nib size?
t!