Watched it yesterday, during the pre-halloween-party festivities, thanks to Kazaa.com.
Parts of it, yes, were scary. Unfortunately, ending dragged on for so long, that the point was lost. It was as if they wrote two separate endings, couldn't decide which one to use, so included both.
After the well scene which I thought was to be the end, the guy behind me and his wife got up and left. I was about to get up but the movie kept going on for another 10 minutes. It was not that scary but like keeper said it did have its moments.