I just got back from watching Cloverfield, which I greatly enjoyed.
For those of you who haven't been following the viral web campaign, it's a modern day monster movie shot entirely with a hand-held camera. The premise is that a 20-something yuppie is going off to Japan for his job, so his friends are throwing him a going-away party. His best friend "Hud" is documenting the whole thing, so he can watch it while in Japan.
Then all hell breaks lose.
This isn't a Godzilla movie. This isn't the Blair Witch Project. It's also not an H.P. Lovecraft movie. This film somehow combines the best of all three and very well.
While at first I didn't care about the characters at all - after all, they are spoiled 20-somethings - when they have to deal with this disaster, loss of loved ones, survive and deal with each other, they did sort of grow on me. By the end, they seem more like real people.
The monster is like something out of Lovecraft, or perhaps the first Hellboy. It's not like anything we've seen before, and is scary in that it's so unnatural or perhaps supernatural.
There are several things about it left unexplained, which just makes it that much more unsettling.
As this reviewer put it, "Godzilla, you got punked."
(there is an audio easter egg at the end of the credits, but apparently you have to listen to it backwards, which this site provides.)