Elk,
If you use moss for you're phals, then I'm sure you will love the moss for phrags. I also use moss for phals and catts.
With my phrags I mix in some large perlite for drainage and air, it works really well. I also in the last 6 months have been mixing in some smallish bark with the sphagnum moss. I do this to avoid and compactness (is that a word?)
I began to use the bark because of the dust that perlite creates - you don't wanna breath that stuff in. So bark works well too - about 25% of bark to the chilean moss.
Sometime this year I'll be trying out some good quality peatmoss.