This tale has been filmed many times, some attempts more successful than others. This one is unique in that it respects Poe's tale, and more importantly the atmosphere he intended, while adding depth to the story. The Tell-Tale Heart, contrary to what the description says for this film, is a short story, not a poem. It's one of the most well-known and literarily important stories in American literature.
Here, the lead actor narrates the story as is done in Poe's original; this narration is mostly straight out of Poe faithfully, with a few lines added to support the modern take on the story. Patrick John Flueger gives one of the best reads I have ever heard - this film is worth seeing simply to hear that.
But you'll find much more. Flueger's performance is the surprise find. He is one of the most underrated actors of his generation, and unfortunately there are only a few films that really show him off. (Check out "Lawless Range" - another indie featuring a breathtaking performance.) Bogdonavich is also fine as the "old man" our protagonist murders in a psychotic rage.
The modern twist envisions the narrator as a soldier pilot returned from Afghanistan who was captured and tortured brutally after his plane crashed. True to Poe's story, he fights desperately to convince us of his sanity while explaining why he killed someone he liked and respected. As in Poe's tale, the chilling effect comes as we realize just how crazy he is. The additional story here adds a tragic depth that is haunting.
Notice the elements that make the film feel very theatrical - it's easy to forget this isn't a stage play. The costumes are reminiscent of the 1930s, the automobiles a decade later, the music lapses into modern jazz, and the characters make references to pop culture of the 1970s. I at first thought this was sloppy filmmaking, but as the film progressed I realized it was intentional, and it added to the feeling of chaos the narrator feels as his mind spins out of control.
Overall the film is an experiment. Some of it works well. It is innovative, terribly creative, and you can feel the respect the creators had for Poe's story and for their craft. Watch it for these elements, and for the wonderful performances.