This book plays much better (for me) than the film adaptation I watched years ago when I saw all the Tales movies in order even though I'd only read the first book. There's a certain edge to camp that seems to be hard to get on screen but is still quite charming in text.
That said, I don't think this book is quite as strong as the first two, and the simple reason for that is that the world changed. The first chapter makes it very clear that it's the 80's. 1981 to be specific. And, especially for the unique and quirky inhabitants of 28 Barbary Lane, it's a darker world. Part of that has come with age, they've grown; older as well as apart in some cases. This is also the first of the books where the mystery/villain involved is as sinister. Although it's never revealed if Luke, the charming/crazy/mysterious man who lives in the woods really IS Jim Jones, the fact is he's potentially associated with the REAL death of 900+ people. While revolting, the cannibal cult in the second book is probably the most innocuous of the evil groups in the first three books because they were only eating body parts which had been amputated legally and (one assumes) with the owner's permission (for the parts to be amputated, not lunched on). With Norman as a child pornographer in the first one, it's certainly a dark spin the reader does not expect and not something to be lightly dismissed, but the shadows of 900 dead people ups the ante pretty steeply. Plus his death is a shot in the head, much more intense than Norman's Disney-esq death of falling off a cliff.
There's also the added darkness of Brian and Michael being brutally gay-bashed toward the end of the book. This is the first time in the series there's ever been a real (and physical) cost for the main set of characters, and it's not nice.
Of course there's still some delightfully fun, classic Tales moments. The brief affair with the classic Hollywood celebrity referred to as _____ _____ (a thinly veiled reference to Rock Hudson), the bitchy A-Gays, some very romantic moments with Mary Ann and Brian and Michael and Jon, and even a news reporter held captive in the basement. And while Mary Ann's arc seems to be continuing on a steady rise, DeeDee's drastic change over the books from spoiled socialite to strategiezing, risk taking, mother and fighter is quite rewarding.
Ultimately the book holds up pretty well. It's an enjoyable ride of mystery and fun adventure. I'm looking forward to reading the rest of the books, especially since their plotlines are still a mystery to me.
Come to think of it, if the characters from the first book could have rated the world they were to inherit in the 80's, they probably wouldn't have given it all 5 stars either....