28 Days Later is a personal favorite, but I think it's more sci-fi and edgy than it is horror... but that could just be me.
I agree that The Shining was just about the best horror movie ever made. The Exorcist (especially the director's cut) is next on the list. From there, I think The Omen(s) were close, but not really the same caliber as the first two. Recent ones seem to just be about making you jump out of your chair. If I'm going to bother with a horror flick, I prefer to go home with the lingering thoughts that lead to nightmares, thank you.
The Descent was interesting for it's feminist subtext, but weak. I won't even comment on all the movies like Scream or the gory chainsaw massacre sub-genre. The only recent movie that has chilled my bones was The Ring. I didn't even go see the Grudge after that because I was not about to have a repeat of the six weeks where I went to sleep with the lights on and draped a towel over my TV.
....Oh god, I wish I hadn't thought of that again. Now I'll never get to sleep!
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