Genuinely eerie at times. (Possible spoilers)
Okay, so THoPB isn't the greatest movie in the world, but, at times,it does have a genuinely eerie atmosphere.
The sequence when the monsters attack the slumber party (especially in the uncut dvd version-which includes shots of mangled coeds and one beastie eating on a woman's hand).... when the two drunks find the dead guy in the truck (with his half-face staring out the window)....and, at the end, when the monsters are defeated and the is steam rising from their ashes, i't reminds me of Sam Raimi's Evil Dead movies.
The grainy black and white photography helps and offtimes the music and audio effects (like in the scene with the drunks where the laughter seems to be coming from everywhere.)are downright spooky.
To me, it ranks alongside "The Incredibly Strange Creatures Who Stopped Living and Became Mixed-Up Zombies!?" as a true classic of bad cinema.