Contrary to popular opinion, I liked it. It was more of a psychological horror movie; The real terror was in what you can't see, what's happening that the characters have no control over. I found the movie quite scary (coming from a horror connoisseur since the age of 5). Typically, no other movies scare me: I can watch The Ring or The Grudge (both claimed to be stuff-your-pants scary) straight faced, Saw, Hellraiser, Friday The 13th, Nightmare On Elm Street. But wow, this movie gave me chills. The acting is pretty decent, but really shows when she's being dragged down the loving hallway screaming for help as the guy sprints after her yelling "LET HER GO, LET HER GO forgetER!". The way it all culminates to the climax at the end of the movie is great. It gradually gets more serious until someone dies.
Oh, and showing clips from The Exorcist doesn't help.
The camerawork (ha ha ha) was excellent. It wasn't Cloverfield where the camera is shaking all the goddamn time (however, in that case it was truly necessary to achieve the effect of SOMEONE RUNNING FROM A BIG-ASS MONSTER). Putting it on a tripod really worked, and allows the audience to study the scenery. The cold, unmoving camera shot was fairly creepy in itself, but when you see stuff go down, it really works. This movie would not have been good without this angle.
I believe the movie isn't for a mainstream audience. Like all Psyche Horror movies, it doesn't appeal to the general populous (probably because it requires an active imagination and a little thinking). For those who can only see what they see (fans of Michael Bay films most likely), you will not appreciate it.
Oh, and I can still hear her scream MIIICAAAAAAAAAAAAAAAAAAAAAAAA H.