Now, I'm a youngin', and until last year, hadn't been to Kennywood in about seven years. But anyway, I have memories from when I was an even smaller youngin' of entering somewhere near Pirate. (I can remember it being one of the first things I could see. Or maybe I just have a really screwed up memory.)
I'm really rambling, but my point is: Didn't there used to be an entrance nearer to the Phantom, or at least, where the Phantom stands today?
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Matt Lynch, who should know this since he helps run a Kennywood website, but oh well...
Co-Webmaster, Kennywood Boulevard
http://kennywood.coasterbuzz.com