I just finnished watching the pre Blair Witch mockumentary The Last Broadcast from 1998. This film follows a couple of local talkshow hosts who venture into the Pine Barrens of New Jersey in search for the legendary Jersey Devil. The overall setup is very much like the The Blair Witch Project and the film is wonderfully directed even though I think the ending feels out of place and just doesn't go with the rest of the film.
All in all I think the film works for the most parts and it ends up as a very believeble (well, to some point) fake documentary. From beginning to end it's a slow and creepy build up to what is something of a shocker ending (love it or hate it). I think that the overall tone and use of editing is superb and I really loved the way they puzzle unfolds right before your eyes...
So what's the final verdict? Well, if you enjoy movies in the likes of The Blair Witch Project I suggest you check this out. I thaught it was pretty damn good even if the ending didn't really feel as good as the rest of the story. But that's just me and I'm sure there's a lot of people out there who think the ending is perfect... so yeah, go check this out either way :)