[cheebacheeba]

I saw it for the first time like...5? years ago when it got a cinema re-release, I'm not sure the difference (the backwards walk thing?) but they'd digitally remastered it and it was a directors edition as I recall...
I actually found it quite effectual...not as such the demon character/possession part but the great tense atmosphere, use of both musical score and almost oppressive silence at times. The weird like near-subliminal stuff was unusual and had me feeling a little bit unsettled too. I remember at one point a phone rang in the film and I was like FUCK!
Great building sense of dread. This to me is what worked about it in terms of horror.
The story itself was pretty interesting too.
Was I personally fearing possession? No. Though I think once you get past the point of about 15 years old horror films don't much have that effect on you any more, the only things I personally find "scary" these days are things and situations that I can personally relate to and/or worry about potentially occurring in everyday life (eg - right at your door).
Horror I see, to experience OTHERS putting up with shit that will most likely never happen...and to have a look at directors/writers impressions of "horror" and "scary", I just don't often share it.
Not big on the jump-outs. Sure, it works. But just does not stay with me.