I've lurking around SF for a few months. This post prompted me to join and reply.
Since March, I've made a few purchases @ Phil's: a couple of sportcoats and 2 suits on sale back in the Spring, and, more recently, a few of the newer suits he just got in from Italy, where he gets everything made.
I don't know exactly what you mean by "extremely fitted", but his line fits me well and I prefer slimmer-shaped cuts (I'm 6 feet tall & 175 lbs).
Some of his newer stuff features slanted pockets which, according to other posts I've seen on SF, make you look slimmer still. I recently purchased a few new suits from his new line -- 2 high-stance 2-buttons with notch lapels (added a ticket pocket on each) and 2 high-stance 2-buttons with peak lapels and ticket pockets. All of his suits are half-canvassed and most are 110s wool.
This much I can say -- I think his stuff is great-looking, fits well, is reasonably priced and of good quality. It may not be on par with many of the brand names you'll see tossed aorund on this forum, but I'm just beginning my sartorial quest and can't afford a lot of the higher end stuff at the moment. For the time being, sis stuff suits my needs perfectly and, I think, measures up against anything else I've owned to date.
Also... Phil himself is both knowledgeable and helpful, not to mention an interesting guy when you talk to him and hear the story of the store's development, etc. Most interesting is the fact that every time I've been there of late, I feel like more and more people are coming into the store... so word seems to be getting out around NYC and beyond.
I hope this helps. At the least, check him out while you're visiting NYC and see what you think for yourself. I think you'll be pleased. Good luck.