It's okay.  Not remotely scary, and, intentional or not, it exists in the shadow of the gargantuan achievement that is It.  

Character development is hinted at, but doesn't really happen.  There are glimpses of ideas with the alcoholism of the main character, but that also doesn't ever gel.  Some things don't make sense, like the mixing of third person omniscient with first person narration(not even a perfunctory, 'they told me all this later' in the denouement.)  I think some might take issue with the character of Dennis, but the portrayal didn't bother me overmuch.

Oh well, it could have been a lot better, but it could also have been a lot worse(fuck you, Summer of Night.)