I'll begin by saying that I love found footage movies, although most of them are quite disappointing at some point. However, there's fairly good examples of this genre, such as The Phoenix Incident.
As the title denotes, this film is based on the Phoenix Lights, the biggest UFO sighting in the USA that took place in 1997. I am a fan of the sighting myself, so when I learned what this movie was about I just had to watch it. It was a pleasant surprise! I love how they mixed the real story, with real footage and real news coverage with the fictional story, which is about the disappearance of four men the exact same night the Phoenix Lights took place.
The faux documentary (mockumentary) stile really suits this movie because it kind of makes it feel like it actually happened and we are watching real footage of an alien encounter. Towards the end of the film everything gets a little too repetitive, and for someone who has already seen plenty of found footage movies, this one offers nothing new to the genre. That's why I give it a 6 out of 10. The acting is good though, the special effects are really well worked and the music helps the atmosphere! I don't know, I really liked this movie and I totally recommend it to anyone who's interested either in UFO related stuff or found footage films!