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I like Asian horror stuff a lot. My favorite has probably been Dark Water. I liked the Ring, didn't like any of the sequels much, though Birthday had its moments.
Kairo was creepy and atmospheric but not really scary, same with Uzumaki and the Eye.
Audition was really cringey - and definitely a horror film, the imagery and situations really stayed with me, even before the famous grueling ending.
Organ was great, worth looking for.
Tsukamoto's films (Tetsuo I and II, Tokyo Fist, Gemini) aren't really horror, though a lot of Tetsuo I is. One of his earlier films (I don't remember the name) is about a Japanese goblin who invades a school - has a few great horror moments.
Ricky-O is soooo gooood, so gross. I love the guy who whips out his own intestines to strangle Ricky. I never saw the Guinea Pig movies but have heard that they are pretty twisted.
The question was, is Asian horror the future? Maybe not, I think the vast majority of American audiences can't relate because the cultures are very different. But people keep asking that question because most new Asian horror films are way better than most new American horror films. The Asian films don't rely on big budgets, unoriginal plots, T+A, overdone effects, or truly crappy but cute actors.
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