It's been over 30 years nce this clasc came out and it still holds up today as well as it did 30+ years ago (that is if you don't read the IMDb about the ending).
The Mysterious Mr Fear has the take that it's a well done Pyscho Santa movie, with a super creepy killer. I, on the other hand, looked at it as more of a Shakespearian type tragedy with the Santa Killer being more on the level of Micheal Douglas in FALLING DOWN. It just goes to show though, that no matter your take on this, it is an enjoyable movie.
Mr. Fear also did the editing on this one and I know he purposely screwed the aspect ratio and format on this so that when I ripped and compressed and fixed everything and got it up online it would have the quality of my old VHS copy of this movie and we'd all be hit with a wave of nostalgia!