I just got back from watching a late night showing, by myself because my sister is a dirty coward who ditched me because she can't handle a PG-13 horror flick at the age of 29. Joke's on her. I'm getting this on DVD to watch for our annual Halloween movie marathon.
Really, though, if you're a fan of the short stories, I think you'll be satisfied with what you see. Some say it would've been better as an anthology, but I'm not so sure. I think this flowed really well, actually, though I did notice a plot hole:
Mild spoiler: everyone in the house when the phrase was said were cursed with a story, but we were cheated two stories. The henchmen that were with Tommy were in the house, but had nothing happen to them throughout the movie, and were never seen again in a 'they lived obliviously happily ever after far removed from the plot' kind of way.
Besides that nitpick (I was hoping High Beams or The Hook might make some form of appearance, lost opportunities!), it was great. A few formulaic things, but fun nonetheless. Hopefully, we'll get a sequel a la "More Scary Stories to Tell in the Dark".