I considered this series a cult classic. It was nowhere near as popular as Friday the 13th or Halloween or Nightmare on Elm Street but I think the original did well enough at the box office to warrant a sequel. I don't recall seeing that many trailers/promos beginning with the original, especially when compared with Jaws, Friday the 13th, etc. Still, I was a horror fanatic and went to see any horror film. Though I heard very little about the original, I enjoyed it. The Tall Man was terrifying! I also liked how each sequel picked up where the previous ended. It was rare to find movies that ended on a cliffhanger.
Personally, I think they need to leave Phantasm alone. Now that The Tall Man has passed, the opportunity to wrap this up in a nice bow is over. Finding someone to fill in or replace Mr. Scrimm would be a terrible move, especially for the fans who've followed this from the beginning.
Additionally, I don't recall there being much success with "reboots". I'm sure there are some examples but I think the failed reboots would far exceed the successful ones.
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