I liked it, and for good reason.

Rating: Null/10 (19 December 2002)

I've heard some really negative things about this movie, mostly from idiots who don't have a clue about films unless every detail is spelled out to them.
(Hey, Look! SPOILERS ahead! I put my own tag, IMDb, please don't add yours as well!)
I've heard people say the acting is bad, that it's just people screaming & shaking the camera. THAT'S THE POINT! If that was happening to YOU, you'd scream a lot and shake whatever you were holding, too! Also, some people have said the cast didn't know what they were doing. Well, they weren't SUPPOSED to know! Kids lost in the woods rarely know what they're doing! Besides, half the movie was ad-libbed! Intentionally!
I've also heard complaints about the marketing scheme & the website & the hype, but I never knew about ANY of that stuff before I saw the film. And I've heard complaints about people thinking it's real. Well, DUH! Of course it's not real! It's a movie! how else do you think the cast was able to do interviews & such after shooting it!?
Okay, now that I've vented, on with the review.
Great movie, one of the few horror films I've ever actually liked. The acting/improvisation was excellent. Heather pulled off her part to a T, Josh kicked extreme amounts of butt, and Mike was okay.
Great imagery and cinematography. The B&W/Color contrast between the two cameras really added some extra depth by letting you see what parts their teacher would actually see if it'd ever been turned in. And the shaped branches, the bloody shirt, the stone piles, the screeching, Mike standing in the corner,...it all just added so much to the movie. Pay close attention to the interviews & narration at the beginning, otherwise much of the imagery won't make sense.
All in all, great film. Buy it. Don't rent it, 'cause when you rent, you have to bring it back. Buy it.