Now, don't take that the wrong way. I have seen many horror films in my day and FT is not the worst in the bunch, far from it. It is a fairly decent way to spend an afternoon. But, there is nothing memorable about it. Heck, even after watching it... I couldn't think of a single "scare" moment worth mentioning in a review. It is simply a click and forget film.
Amazon's rundown is basically all you need to know: A professor, looking to redeem himself, takes a few young folks interested in filming, out to Alaska to investigate the theory that Frankenstein was a factual event. Now, depending on how you want to look at the majority of the film, it is either "slow and drawn out" or "suspenseful and engaging". Either way, the film eventually finds its way to the last 20 odd minutes, in which off-scene kills and sound effects happen. If you have watched many "found footage" films, you have 3 guesses to figure out how the film ends.
Was it a great film? No. Do I regret watching it? Also, no. Does the cool DvD cover art appear anywhere in the film or does the star of the show even get some solid screen time? Nope, not a chance buddy.
Short version: Take a run at it on Amazon's video streaming or maybe even Redbox or Netflix (if it gets to Netflix). Buying it would be a terrible investment.