I dug Cloverfield, but the finest shakey-cam/faux verite horror film is still George A. Romero's Diary Of The Dead (sorry, Blair Witches). This fifth official entry into the apocalyptic zombie saga that began with 1968's Night Of The Living Dead is a sort-of reboot of the franchise, restaging the early days of the undead infestation as captured by Citizen Journalist's news reports, camera phones, webcasts, etc. It's a breathtaking experiment--at 67, Romero can still outscare the youngsters who rip him off at every turn. Diary has just played to much acclaim at the Sundance Film Festival.
Sundance coverage at David Hudson's essential film site Green Cine Daily quotes my review from last year's TIFF, which you can read in its entirety here.
The Weinstein Company will release Diary Of The Dead on Feb. 15, 2008.