A little bit of a threadjack, but the Japanese obsession with water and long-haired ghosts is... well... It's not just a ring thing because
all Japanese female ghosts supposedly look like that. Water also has something to do with death in that culture, but I'm not quite sure what.
So the reason why all the American remakes of Japanese films are becoming predictable and not-very-scary is probably because we just don't come from that culture. Plenty of elements are 'lost in translation,' so to say, including the cultural background of the story.
End threadjack. Now I'll contribute to the discussion at hand!
I like psychological thrillers, but I really don't have any interest in this movie. However, I'm getting vaguely curious about this 'twist' everyone is talking about. Was it really that impossible to guess? There are always hints to a twist in the context of a movie--well, obviously, because otherwise, the twist would make no sense. I just don't see...
Well, whatever.

Anyone want to PM me with a spoiler? I'm never going to see it, anyway.
"Oh, good. After all, I can rub my stomach and pat my head at the same time, and I can do it with my eyes closed while whistling 'The Entertainer.' That's rhythm for you."
~ Snaps, proving that White Boys CAN have rhythm