We saw Cloverfield today. It was awesome!!!!! It was also very scary and Ian had to hold my hand to make sure I didn't dissolve into a puddle of fear.
It starts with these people at a going-away party, and things go quite quickly straight to hell. As something is destroying the city, we follow the guy videoing the party and some others until they can't video any more. I found it very realistic - if things like those landed in Manhattan, people would react the way they do. They'd do stupid things, they'd scream, they'd hide, and they'd run. There's no soundtrack other than what we see onscreen and the sounds are right - the metal on metal, the buildings coming down, everything is real. It's like you're the one doing the filming, which makes it a more visceral experience than it might otherwise be.
It doesn't have a traditional Hollywood ending - the ending is less happy than traditional Hollywook movies, although it is much more fulfilling.
I'd strongly recommend this movie if you love scary movies like I do - there's not really any gore or violence but it manages to be suspenseful and quite frightening all at the same time. This is one of those movies I'll want to see on DVD because I'd like to see it again to figure more stuff out.