My brother-in-law picked it up and we watched it Friday night. I hadn't seen it since I was a kid and he had never watched it before. The transfer looks great and the cinematography and acting is above average for a slasher. The film has a couple of great Savini moments (incl. one on the water that is great). Oh, and Jason Alexander, Fisher Stevens and Holly Hunter all make appearances. You probably will recognize other actors as well since most of them still get work. The extras are minimal, but I didn't listen to the director's commentary (which might be interesting considering the director and the Wiensteins didn't always share the same vision for the film). The Savini interview is great.
'The Burning' deserves the hype as one of the better slashers of the early 80s. Check it out.