I loved it when I first rented it on tape back in the 80s, but the last time I saw it (have only seen it twice) was about a decade ago and I didn't think that it held up that well. It is still an ok movie, albeit slightly overrated in my opinion.
I can see why people respond to this movie, as it's a clear labor of love. That makes me want to like it, too. But aside from the great fall setting and nifty cinematography, nothing works for me. The awful recurring appearances of the grandparents are clearly supposed to replicate the stylized family antics of A Christmas Story, but they're unfunny and endlessly repetitive. The mystery aspects of the film are totally harpooned by the most obvious telegraphing imaginable. Scooby Doo did a better job of concealing the identities of its villains. The racial tension subplot adds nothing but run-time to a movie that already meanders too much. The jarring tonal shifts make me wonder who's supposed to be the target audience? How can you make a film that essentially plays like an extended after-school special, yet include an on-screen child death that would undoubtedly disturb the younger viewers who might otherwise enjoy it most? The pointless modern-day opening doesn't even have a bookend that might justify its existence. And don't get me started on the cloying voice-overs. I wish it was as good as your review, Dave--especially since LaLoggia appears to be a great guy. This movie just doesn't connect with me at all.
I've heard this charge made against so many movies, I do not take it seriously anymore. (When was the last time you watched an after-school special?) I do agree that it has a "Who Is This For?" problem. Though, no moreso than The Lost Boys. In fact, it's the same problem. It's that I believe people who came for a heartfelt drama about familial loss, racism, etc., they don't care for stuff like "it's colder than a witchy's titty out here" and that stuff about the older brother masturbating. Every 80's movie wrote "kids" like they were mini-sailors. Yawn. Did anyone else think it was obvious who the killer was?
It seems people either love it or hate it. I totally get it, too. I can see both perspectives. For me, though, it's magic. It will likely be a few more years before I watch it. At least I'm due for a Carnival of Souls viewing pretty soon.