While Hollywood can still put out a genuinely creepy film when it wants to, most scary movies these days miss the mark. That's why vintage films (and even silent films) are enjoying a resurgence at the moment.
If you think silent movies can't be just as scary as the CGI-filled flicks in theaters today, you're so wrong. As evidence, I present a clip from the 1911 silent film "L'Inferno." In this scene, you'll see Satan enjoying a nice meal made of human flesh.
I think modern filmmakers could learn a thing or two from old productions like this. Sometimes, practical effects (even if they look weird) can be 10 times more disturbing than anything made on a computer.