It's Feelan. Phe- is an open syllable, which is pronounced with a long vowel sound. At least assuming Phelan is now an American word. I suppose we could go back and find sometime when it was pronounced Faylen and that was correct, but I think, since it is a proper noun, that the pronunciation should be whatever the consensus of those living there choose it to be. I heard the disagreement between Eric Leonard and John and Ken and had to laugh. I called it Faylen when I first came here, but I was quickly corrected by someone in a real estate office.