I imagine they'd put the Euros up if there was a real threat.
Those F-4F Phantoms have the same AN/APG-63 radar that F/A-18 A through D Hornets have, and are capable of firing the AIM-120 AMRAAM. And unlike the Hornet, they are mach 2+ capable--which is advantageous for interceptors.
The real problem with those planes is that they do not have an IFF interrogator, so without AWACS, the F-4F can't take advantage of the AMRAAM's BVR capability.
Still, I wouldn't call those Phantoms toast.