Steel Phantom is 160 feet tall, meaning the first drop is slightly less than that. When it climbs back up the 2nd hill, we all know it's not going to go 160 ft. back up, it's impossible. Therefore, for this conversation's sake, we'll say it goes up 150 ft.
The 2nd drop being 225 ft. down, this means there's 150' above ground level ("ground level" being where the station is), and 75' down in the ravine.
If Kennywood wanted a drop of 300+, they'd *at least* have to make the first drop in the area of 235 ft. above ground. (This is all using the *current* layout of the first 2 drops on SP.) If the first drop was 235 ft., they'd climb a hill of about 225' above ground, then drop down 300ft (225 above ground level, 75 below) for the "giga coaster" status.
Let's think about this for a minute, though. Millennium Force doesn't even have a 300' *and* 200' drop. Other than the first drop, no other drops break the 200' barrier. Just try to imagine the amount of money it would take. Granted, use of terrain saves a lot of money, but still... that would be a pretty penny indeed.
(And on a side note, I looked, but couldn't find the statistics for Steel Dragon 2000. I imagine that the 2nd drop on it is 200+ feet tall.)
I hope you all have followed my logic... I did the best I could.
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How dare you vanquish the Steel Phantom without his consent? Fear the Phantom's Revenge.