I got goosebumps, literally
I genuinely felt fear.
To me, this was better than Blair Witch and fully equally to the original, Japanese version of Black Water. As other posters and reviewers have said, it was as much about the grieving process as it was about any kind of ghost. I loved that the some of the home video seemed difficult to make out, because that is the way it really is.
I don't want to spoil it but how the story turned and turned again was done just right, each reveal heightening both the tension and the genuine horror. It was even well-cast and the acting was solid and believable. The end was so well done, the juxtaposition of the dreams of mother and daughter was both sad and chilling.
Hollywood is going to wreck this. I can't see how they won't. There is little to improve on beyond some slight plot weaknesses and contrivances. A bigger budget can't do a thing for this film.
The Aussies have done it again. This one is a solid 8+