I loved Bloodlines, but I'm a bit biased. I first read Pet Sematary when I was a teenager, and to this day it's (the book, not the movie) the only work of horror fiction to ever scare the bejesus out of me. I was always fascinated with Judd Crandall's back story, although they did change the time period in this one. In the novel Timmy Baterman died in WWII and Judd and his friends were all grown men when they confront the undead Timmy.
Nevertheless, this film really intrigued me because it told Judd's backstory and explains how he comes to be in the original Pet Sematary in an interesting way. So, I guess if you are a fan of the original novel like I am, you definitely want to check out this film.