I got over my disgust that they were remaking one of my all-time favorite films and went into this one with a completely open mind -- I saw the trailer but I purposely didn't read a single thing about it. It seemed strange that the film skipped cinemas, but now I understand why. I didn't think any film could be this bad.
Strangely, there's a beautiful production design, and most of the actors are good (though the fact that everyone in the cast is model-pretty is a bit disconcerting). Unfortunately, the script is truly abysmal. After 20 minutes of getting to know the characters -- all of whom are wholly unlikable -- the story actually begins, and from that point on it becomes a routine I KNOW WHAT YOU DID LAST SUMMER rip-off, sans the suspense, gore and intentional humor of that film. The only thing lifted from the 1986 film is the title, a character with a videocamera (which had nothing to do with the plot itself in the original) and the theatrical twist ending -- though they tried to trump the twist here, which resulted in one of the most predictable and unintentionally hilarious moments in the history of film.
This film feels like one of the clones that followed in the wake of SCREAM. If you've seen a horror movie since 1997, don't bother with this one. But if you're masochistic enough to endure the film, make sure to stay through the closing credits for an extra scene -- after all, there's no other extras anywhere on the disc.