I liked it too but I felt that it showed its origins as an expanded short - the middle part has precious little plot. Conseqeuently it is easy to work out where this one is going and that lessens the impact of the finale.
On the plus side the dream sequences are disturbing and a little sick, there are some hilarious bits and the performances are great. I look forward to more work from the director.
Also, was it just me or did Traci Lords' character look like Kathy Lee Gifford?
There's always free cheese in a mousetrap.