I saw it when it came out and it had been hyped as the scariest film ever, because the people who saw it at festivals thought it was for real. When I saw the film, knowing it wasn't real, I was rather underwhelmed. I can see how it would be scary if you thought it was real footage, but the film never quite pushed the premise far enough. The best thing about it was that the acting felt very authentic. There was a mock-documentary about the "legend of the Blair witch" on the DVD as an extra (I think it was made far TV channel as a tie in with the film) which I found more effective and scary than the film itself. There have been many "found footage" horror films since, some of them like the already mentioned [REC] I found far more scary than Blair Witch.