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The most wasted of licenses recently has to be the very poor Halloween H20. This was obviously intended for teens from the beginning. For instance Michael Myers in H20 gets knocked down by a brick where as Michael Myers in Halloween 1 would withstand multiple gunshots. There was no real depth in the film, sure it had the usual suspense but where was the gore?
The Blair Witch Project I thought worked really well. This is probably the best example of horror of recent years. Back to the old fashioned psychological side of things, but they ruined it by making a sequel, which I might add was a load of rubbish!!
The best series has to be Hellraiser 1-4. These films mantained their look in all four films and the plots were just brilliant. The effects are some of the best I have ever seen in horror movies and they knew when to stop. Although number five is in the pipeline, I am sure it will be another worthy sequel.
There are also plans to release a Halloween H2K, Friday the 13th X and Jason vs Freddie. These could still become great horror films, but I wish that they still had the look of the 80's where horror was at its best.