Watched this last night.
I had read some reviews that describe it as a let down and compare it to a syfy original.
It was a Phantasm movie, what do people expect?
As a Phantasm movie it does alright. Some of the scene graphics looked cheesy as hell but what interested me was the story. It heavily delves into the Tall Man's multiverse. At first the dimensional jumps are surprising and break the story's flow. As the movie progresses, the various dimensions begin to take shape and the movie unfolds into a science fiction tale of a man that retains a single consciousness across multiple dimensions.
I do believe the spheres, which really made Phantasm cool, were over-used. More is not always better. The effects used to depict the spheres look like the same level of effects from the first movie. But, hey...Its a Phantasm movie so what do you expect?
The ending, I felt, was wonderfully done until they just couldn't let it go. They had to set up a possibility for a sequel. They even set up new characters to be in such a sequel. If you end up watching it, I recommed you stop the movie when the ending comes up...You will know the place.