HAH. That's more like it. I prefer to see this as a remake, since the first 7 minutes of this movie perfectly summed up the entire 80ish minute running length of The Evil Dead without really missing anything (except blood... oh no, wait). Also, because this movie is actually good.
Adding some humor into the mix was what made the difference. The scene with Ash sawing off his shotgun with his new chainsaw hand, and then making a weird face while saying "Groovy." was ridiculously awesome. There's just so many crazy things that happen in this movie that you can't really get bored, and it all gets exponentially improved by Bruce Campbell's hilarious acting.
Considering it came out in 1987, I agree that this can safely be labelled as one of the great classics of horror.
In a sentence:
Anyone that even slightly likes horror/comedy and blood will love this. It's a crazy, crazy movie. Great for watching with friends late at night.
