Unlike many other reviewers, out of the Phantasm series, I liked this one the best. They really had fun with this one and didn't take themselves too seriously. And it was actually funny!
The movie picks up where the second one ended, but I don't think you necessarily need to see the first two movies to enjoy this one. There are plenty of flashbacks and, frankly, it's a pretty crazy story to follow in any case. I think this one actually made more sense than the first two.
The first Phantasm was an amateur pet project that was literally a bunch of friends working weekends putting together a horror movie for fun. It was and is a cult hit.
The second movie had more money behind it but, in my opinion, tried to take itself a little too seriously for such ridiculous subject matter.
For me, this movie had the perfect balance of horror and comedy. It was hilarious, horrific, and sometimes both at the same time. Good fun with decent make-up effects and an amazing car stunt with a hearse. I also really liked the way they introduced one of the main characters, the kid. I could see that idea being a great movie on its own: Home Alone done as a horror movie.
In the DVD commentary (yes, believe it or not, I even listened to the commentary) Baldwin asked Angus what the fan reaction to this movie was. He said that people either hated it for the comedy element or loved it because of it. I'm in the latter category.
If you're looking for top-notch acting and dialogue or a story that makes sense, this is not your movie. But if you like b-horror movies on the humorous side, I definitely recommend you give this one a shot.
