People bash this film way too much!
I just finished watching and to be honest I enjoyed it. I didn't go into it expecting much and came out satisfied. I love films like Cube and Saw and the twist endings that come with them, so naturally I'm somewhat biased.
The last movie I saw with a 4.4 rating on IMDB was Midnight Movie, and it was flat out TERRIBLE. But, I think Steel Trap pulls its weight and delivers in the end. I didn't like the fact that they broke the 4th wall and had the main character talking to the audience but other than that it was a cool film for what its worth. :)
On a completely different note, I thought one of the characters looked very simliar to a young Kevin Spacey. If you've seen the film you'll know who I'm talking about.
Cheers!