I've got a lot of love for BWP. It scared the shit out of me as a kid, but I was caught up in the cultural phenomenon surrounding it, including the faux documentaries covering the incident that screened on TV. On reflection I think it's a masterpiece, but largely due to its cultural significance in cinema, and its attempt at convincing found footage narrative.
Though I think that's because with a majority of horror films I'm more fascinated by the ideas and themes they explore, and the emotions they conjure, particularly in their inventiveness of concepts, sets, editing, direction, etc than actually expecting to be scared. Like even typing this I can't think of many horror films that scare me, and the horror films I love I do so for other reasons. Though I guess that's horror, so broad and abstract as a genre, that it's really just about the unsettling emotional resonance and not always outright spooks.
I really like The Orphanage.