I did really enjoy the story, even though I found the main character quite unlikable. The story has a nice warm feel to it, like one of those horror movies you enjoy because of the atmosphere not because it's scary. There is quite a high level of corn but Masterton really does know how to right tension, there is an underwater scene that is brilliantly written.
Quite hard to review this because a quarter of the book was misprinted, the last 100 pages were 89-188 (again), basically missing the most important 100 pages in the book.
I gave it 4 because that was my feeling while I was reading.