IT is the best adaptation of a Stephen King novel in recent memory. While it takes a few liberties with the original novel (the book was set in the 50's and this movie is set in the 80's) it has the same qualities as some of his earlier movies like The Shinning and Stand by Me.
The story is told from the point of view of seven kids who are bullied at school. In school the six boys and one girl are referred to as "The Losers Club", but they band together over the summer and start to unravel the mystery of a history in their small town of children disappearing over the years. After doing some research at the library (pre-Google) the kids discover that the disappearances happen in the small town in Maine every 27 years.
The movie starts out with a little boy being sucked down a sidewalk gutter by a very creepy clown played by Bill Skarsgard. Skarsgard plays the killer clown perfectly. He's not over the top at all, but he goes from 0 to 100 from being a laughing, silly clown to a homicidal killer with out any type of warning. Each child sees the clown but they are also tormented by whatever their imagination conjures up as their deepest fear. IT is one terrifying movie.
The relatively unknown cast of kids are great. Imagine a monster who is preying on small, defenseless children. This makes the movie even more of a nightmarish tale. It's rated R for violence, terror and bloody scenes. No small child should see this movie. Even Bill Skarsgard, who plays the killer clown, says the movie gave him nightmares from playing the role.
The CGI effects are really amazing. There are some very demented monsters in this movie that come straight from the mind of the master of horror, Stephen King. I expect IT to debut with some huge box office numbers. It is really the best horror film to come out in a long time. On my "Hollywood Popcorn Scale" IT rates a JUMBO.