I still have grainy, late night, no-cable, cheap VHS dubs of this show from waaaaaayyyy back when, late-night-commercials and all, when I would stay up to whatever weird hour they would slap this show on -- just so I could tape it.
The series wasn't really ABOUT Freddy Kreuger - only the first couple of episodes actually involved him as anything but a Rod Serling-esquire announcer. Instead, each episode was a distinct nightmare, using the traditional horror themes of horrific childhood, dating, cannibalism, dating, money, death, dating, and... hmm... dating.
From the episode where a teenage boy accidentally says "I will love you forever" to the wrong girl, and is stuck with her (literally, at least for a moment, they grow together...), to the one where a young stewardess goes home with a strange man, only to find herself in his cabin, where he has a trophy room full of other stewardesses, and one I only vaguely remember which compared blind dates to hockey (and the injuries and penalties that go with it) - dating was definitely the scariest thing in the series.
One episode had Jeffrey Combs (Re-Animator, etc.) as a motivated pizza merchant with a tasty new secret ingredient. Not original, but still creepy and fun....
Even so, some of the episodes were great. My personal favorite was "It's a Miserable Life" where a young man is trapped working in his parents' burger joint, when he wants to go off to college. Stuck talking to himself and doing little puppet shows with old cheeseburgers - until one late night when a weird guy comes through the drive through and suddenly his life is not the same. No, not Freddy, just a thug with a gun - turns out the whole mind-blowing episode is just that - the last thoughts that pass through the kid's head... along with a bullet.
The second half of the same episode (many of the Freddie's Nightmares episodes were essentially two vaguely connected short stories) followed his girlfriend, who was also wounded, but not killed in the drive-by, and who is taken to "the hospital from heck" - they cram in all the most creepy hospital nightmare clichés, and then some - from accidentally having your mouth sewn shut - or waking up during an operation - to having your dead boyfriend try and lure you into the morgue for a little cuddle.
Again, that was my favorite.
Some of the episodes were much dumber, like ALMOST ALL OF THE ONES THEY'VE MADE AVAILABLE ON VIDEO. They put the crummy ones out as representative of the series, and then nobody likes them, thinks the show stunk, and then they don't put any more on video. It's a Miserable Life is only available on PAL DVD in England - but I'm still gonna buy it.

I should explain why i gave this..."piece of art" 1 star rating out of possible 10. Simply because it's hard or next to impossible to rate it unbiased. probably it would have been the same if i had given it 10/10 - explanations anyway would have followed.
I am not fond of these pointless gore movies like HOSTEL or so - i think that's disgusting and pretty terrible (in all the possible contextual meanings), but as i found out after watching this movie - there is a genre called "historical drama" - and probably it would have been the case of 10/10 as it has plenty of it and Tarantino would have been more than happier with it (and made Kill Bill 3 to spill even more blood on screen than here to show that it is possible). but the thing about "historical drama" genre is that it's a sub-category of the "trash movies" where John Romero is the undead-gory-emperor-of-the-guts and so automatically it can't be rated as your default movie - as these are movies that are made bad on purpose and you can't really tell whether the comically bad moment was meant to be so, or it was simply bad. it's for the people who like to enjoy bad acting, bad screenplay and bad everything else. And by some turn of faith - i am one of them too. there are days when i have an urge of seeing a really bad movie and look up for some trash and here you go - the day is saved! but that's definitely an opinion of mine and doesn't have match with anyones' else.
What i wanted to say is that if you want to watch some terrible movie - then Fellini's Casanova is definitely the choice, but heed my advice and don't rate it by default means.