After seeing it I have to agree, I really enjoyed it and I was on the edge of my seat through the whole thing. I definitely recommend Cloverfield (in the theater if possible). Just one caveat, it’s possible the camera work might disturb anyone with motion sickness although Xiaofen didn’t have any trouble and she gets car sick all the time. I had only seen the (cryptic) trailer and didn’t have any expectations going in and I think that helped so I’m going to leave it at that and follow Wil Wheaton’s example and leave my slightly more detailed analysis in the comments.

Oh if you’re like me and worry that the director is going to stick a little extra on after the credits, there is a little something but it’s not really worth waiting for (only a couple seconds of audio and I’ll link to it below).

Possible spoilers in the comments