When I first saw this movie I was a little disappointed. I felt that writer/director Don Coscarelli had once again did the best he could but that this time he had definitely bitten off more than he could chew (hence the "filler" material, as I saw it, made from unused scenes from the original Phantasm movie). Luckily, I rewatched the film recently and saw it for what it was: a wonderful end (probably) to a series that had taken a momentous effort to get made in the first place. If things aren't always as polished as they could be, well, bear in mind that Coscarelli IS working within the kind of budget that I imagine wouldn't even pay for the catering trucks on a Michael Bay picture.
This time around it's Reggie doing the chasing as "The Tall Man" has taken Michael and is almost ready to complete whatever grand plan he has had for the boy all along. As the clock ticks away on Michael's chances of survival we learn even more about the origins of the evil icon and how his plans were initially made.
And don't worry, we have even more action from the spheres of doom along with plenty of interesting musings on inter-dimensional travelling and how to really create that shrunken little slave you've always hankered after. There are also a few twists and turns that, while well signposted, impress once again by showing how fearless Coscarelli really is when he has such faith in his own material.
All of the main cast members return (Bannister, Baldwin, Thornbury and Scrimm), thankfully, and Coscarelli goes out of his way to provide each one with a fitting final moment in a series that will surely be loved by horror fans for many years to come.
See this if you like: Phantasm, Phantasm II, Phantasm III: Lord Of The Dead.