Late Night With The Devil - I enjoyed it a lot. I thought it was a genuinely original idea, pretty much a play (or could be) with virtually all the action taking place in a single room - the TV studio for a Letterman style show called Nightowls Are Not What They Seem - and the bits outside of it could easily be dispensed wirh if required.
So ultra-low budget with even the bloke playing the main guy being unknown to me, minimal fx until the end and so on. It kept me watching and interested and i genuinely enjoyed the tacky 70s talkshow feel. So why the reservation? Well, for a film that is nominally a horror it's just not very scary, which is an issue right?
Also i should say, at the start it begins with one of the longest voice-over narration exposition type things I've ever heard. Watching that it seemed to me that someone had heard the phrase "show don't tell" and just gone fuck it. I mean it's so far in the opposite direction that it feels deliberate, I almost felt I had to respect the idea of breaking one of the most fundamental rules of cinema so extremely right as the very first thing that happens in the film.
nb one of the characters is based on The Amazing Randi (though much more of a wanker as far as I can tell) who has been discussed on here I'm sure and was a pretty interesting guy I'd say.