I pronounce it somewhere between 'raf-eye-EL' and 'raf-ah-EL', but I'm from the
UK. I've never heard it with a 'fee' sound in the middle. For me, the 'a' is more like cat than caught.
I prefer the
Raphael spelling. I've met one, and he was from Belgium. I'm not a fan of the nickname
Rafe.