I saw a few episodes on video, and while I am not a particular fan of the genre, I was quite impressed. It was like the Twilight Zone, but with a strong horror theme (although not all the time), and without the pretentious, sentimental feel. What really impressed me was the 1950's style openings with the host. If you didn't know these were new you'd think they were from that era. They go a long way toward helping you appreciate the carefully crafted tales that are being introduced.
The other stand out thing about the show is the stories they get. They don't just dredge up whatever they can get from other shows. They get some original ideas. On top of that, you get the feeling that the actors are having a lot of fun telling doing the shows.
So, if you thought Rod Sterling didn't include enough blood, or you just like clever stories with cool introductions, and you aren't squeamish, then this is the show for you.