Silly Based off of True Events antics aside: This was the scariest movie I've seen in YEARS.
By scary, I mean that this was a true horror movie in the classical sense. None of the over-the-top gore effects offered by the recent trend of slasher flicks. This movie gets into your head and messes with it over. and. over.
Which isn't to say that the movie is a constant scare fest. Far from it, actually. There are some genuinely funny moments in the film (a lot, actually). But, the humor just serves to take you down from the edge of your seat so they can put you right back in the next scene.
The effects (what there were of them) were AMAZING... especially if you consider that the entire film was shot in a week and cost only $15,000.00.