I've got to say i wasn't too impressed with this to be honest. I love the original hellraisers and i just keep hoping that they make at least 1 more decent sequel but thats looking unlikely.
Having said that i've seen worse films but its seems to have gone down the the traditional slasher film a bit too much. The real shame is that there's some good ideas in it. They just don't seem to have been pulled off.
Don't go out of your way to watch this unless you're really into the series. It doesn't add anything, just offers a slightly different slant on the story.