Better than Jaws!
Well alright it probebly isn't really, but personally I find the rubber alligator much more menacing than the rubber shark.
I love everything about this movie, the characters, the photography, the music, the pacing, the dialogue, the locations, the lighting, the editing, the effects the list goes on. There is no pretension or needless rationalisation, and by not taking itself seriously, Alligator totally fulfills its purpose and becomes a better movie than many others that do take themselves seriously.
I've just seen it for the first time in 15 years, and it still scores.