Well I took the advice of my fellow blog mates and skipped V/H/S #1 and went right to the second film. A couple investigates a house where they find VHS tapes with four disturbing little stories on it. The first is about a guy who gets an electronic eye implant that produces a weird side effect, he gets tormented by dead people. The second is a zombie attack short that follows a bike rider who had a helmet cam when he encountered zombies. It takes us from his initial ride into zombiehood. The third, and most effective story, has to do with a cultist commune on their day of reckoning and the unfortunate documentary crew that came to interview them. The final story deals with alien abduction.
All four stories are solid and represent the type of found footage that I feel does the format justice, meaning there is less talk and a lot of action. I think that most found footage films would do well in the short story form rather then stretched out to full-length films. Totally worth checking out even if you're not a fan of found footage type films.