Paranormal Activity was very good, but the experience was spoiled quite a bit by a horrible audience filled with dumb teenagers getting up and walking out every 5 minutes, and playing with their cell phones constantly and talking throughout. When did theaters stop iding for R rated movies? These days it's really hard for the mature audience these movies are intended for to go out and enjoy it, one reason many people don't go to theaters any more. It has nothing to do with hype, if a movie is good you will enjoy it. As soon as you get a whiff of something that might be good out there, go see it instead of reading every message board and seeing every trailer on the internet, then wondering why you may not have been shocked by the actual film when you finally see it.
PS. This party idea sounds fun but I'm not paying to see it again a week later.