I thought Insidious was pretty good but pt 2 actually made me think less of the first movie lol. I blame @
GuamoKun for telling me it's legit
The rewind scene is literally one of my favorite scenes of any movie. He's just like naw fuck that this isn't the movie you want it to be. But the movie isn't even meant to be a horror movie, it's a critique of them, to tease what you want to happen and throw it all away.
You should check out my list. Grave Encounters was a fun movie but, like you said, it's hard to call it good. Also Grave Encounters is Canadian lol. As far as American movies go, check out Mike Flanagan's movies (Absentia, Oculus, Somnia coming out next year) and Benson+Morehead (Resolution, VHS Viral, Spring coming out next year and has a pretty good trailer).
http://testyourmight.com/threads/when-will-studios-stop-making-terrible-horror-movies.46469/page-2#post-1506892
Also if you like found footage stuff like that you should watch Europa Report, Home Movie, Trollhunter (not rly scary but surprisingly good), and Apartment 143 (kind of dumb but still fun). Atrocious is pretty intense too but there's not enough of a story.