When I watched it a second time on DVD, I still had a ball watching all the clever ways that I missed the obvious. The problem with What Lies Beneath was what lies beneath it. None of the backstory or context gives you the slightest hint at the reality of the situation. Salient plot points that everyone seems to know conveniently get mentioned for the first time four-fifths of the way through the movie. If you had been given all the information that the characters had walking into this film, there wouldn't have been a plot.
Clever misdirection is one thing, but withholding vital information is just a cheat.
Even knowing where the film was going to take me, the film didn't take me there, and that took the fun out of it. I mean, it's better than the Haunting or House on Haunted Hill .