I started seeing The Dead in 1985, and I saw them 70 times right up to 6/10/94. I first saw Phish in 1991, and have so far seen them 41 times. Age and responsibilities have slowed my concert attendance dramatically. If I had to pick a favorite, it would be the Grateful Dead. They are deepest in my heart, but Phish is a very close second. I have collected more Dead music than Phish, but not by much. I currently listen to more Phish because they are currently making new music and have new concerts for me to collect.
So, I guess I am saying that I go back and forth between the two depending on mood. I truly LOVE them both. Seriously. LOVE LOVE LOVE!!! No other bands have even come close to touching my heart the ay that Phish and The Dead have. I still get the same excitement over trying to guess what Phish will play at a show that I had 25 years ago at a Dead show. I get giddy over this shit!
I think when I first started seeing Phish 20 years ago I thought they were somewhat akin to the Dead (even if I thought they sounded more like Zappa), but these days I see, and hear, two totally different bands with two totally different things to offer a listener.
I am truly honored to have been a part of both bands' experience!