A lot better than I remember it being...
I rewatched it for the first time last night having not seen it since it came to DVD back in 2010-2011.
It's nothing special and when compared to the stronger entries of the original series it does lack. Parts 1, 3, 4 & FvJ are ones I definitely prefer over this remake with 7 being a maybe. I'd take this over 2, 5 & 6. So ultimately it's a middle of the road Nightmare film.
It really shows the value in revisiting films. Ask me last week what I thought of this I'd say it was very poor and probably the worst Nightmare film, but I've rewatched the entire franchise over the last 2 months so with all of them fresh in mind it's climbed up the rankings.
The production values were good with the special effects being perfectly fine save for one scene.
Acting wise, Rooney Mara supposedly hated working on this film and I think she's on record as phoning it in but in saying that Heather Langenkamp didn't deliver a masterclass in the 1984 film so as far as Nancy goes she's at least equal. JEH did a good job as Freddy, no one will ever be able to match Robert Englund but if they decide to make more Nightmare films I wouldn't mind JEH coming back as Freddy. I can't think of many actors who'd do a better job than he did.