O just saw the movie a few days ago. The most intresting is how a relatively simple story, that has been told millions of times can catch you once again when the format is new. The "puzzle editing" forces you to go back in your head to recreate the story all the time. When the director gives that kind of space to the viewer, for him to think, it's always a big step towards a good piece of work.
I'm not a fan of grainy looks, they seem to create a physical barrier between the viewer and the screen. But in that particular case was not so bad, since the story was so well told.
Del Toro and Penn are great, as usual, but the big name there for me was Naomi Watts. The girl is amazing, always coming up with great performances since her first major apearence in David Lynch's "Mulholland Drive"