My DVD just arrived from Amazon. It was pretty good. It was fun for what it was. It wasn't a canonical entry into the series. They "Wes Craven's New Nightmared" the whole thing by saying "the movies were just movies, and this is reality."
[Show spoiler]They did a horrible Scream sip-off scene at the end.
I'm glad that I own it. I probably will not rewatch it much. It was nice to see those legacy actors in a movie again.