I'm pretty certain I'm no 'cinema snob' - most of the films in my DVD collection contain zombies or masked serial killers. What I'm trying to say is that I don't generally look for great acting performances or deep character arcs. As long as a film entertains me for an hour and a half then I'm happy.
A killer is 'despatching' a group of cheerleaders one by one - and that's about it. He does it in a way that, granted may be brutal, but it's nothing you haven't seen in a hundred other 'slasher' films.
Sadly, despite the obviously 'B-movie-esque' title, 'Cheerleader Sleepover Slaughter' is just too much of a B-movie to even be added to that 'so-bad-it's-good' category. The acting is awful. You can tell the 'actors' are remembering their lines as they say them. Plus the direction is dire. Scenes go on way too long and aren't even that relevant to the story. And, I don't know whether it's just me, or did half the shots get filmed without the use of a tripod?
I guess it should be given props for having practical make-up effects which are realistic, although not particularly inventive. Oh, and it has some nudity if you're into that. I suppose the best thing I can say about it is that it's short - just slightly over an hour, so it won't waste too much of your time if you're forced to watch it.