Tonight I went to see Paranormal Activity 4 with my boyfriend and some friends, and, well, I have never dealt with scary movies all that great. The first Paranormal Activity terrified me. I'm talking crying, shaking, and just all over big babying. It was somewhat the same for the sequel, and I didn't bother seeing the third. Four did not really cut it for me.
I really liked the way they filmed this one, especially coming off a period where my relationship was handled almost solely through a web cam. Also glad that Alex (main girl) was totally creeped out by her bf when appropriate. (Did anyone else think she looked like Anna Sophia Robb? )
I had my eyes covered a lot of the film, but after the first major freakout in the third part of the movie it lost all of the suspense, which I think is normal for this series (post the first installment, which was amazing). Every film has followed the same format, and as soon as I hear the bass turned on I know to steel myself. I did like that they rarely used "close object covering the camera" as a way to add a scare.
Boyfriend linked me to ScreenCrush which is saying that the after credits teaser is the lead in to a series aimed at latino audiences. Not gonna lie, I will watch this and love it.
Overall, if you want to watch Paranormal Activity, just watch 1-3, and wait for 4 to come out on DVD. You aren't missing much.