I have seen All of the Nightmare on Elm Street films, as well as own them (Box Set, with the 3-D glasses, and I own the VHS Unrated Cut of Elm Street 5), but I have seen none of the Friday the 13th movies (I didn't want boobs, I wanted story, even at a young age).
I still kind of enjoy Freddy V. Jason in a strange sort of way, but is it better then the Seven Elm Street Movies? Not hardly.
The First Elm Street started the franchise, and it's still undeniably creepy in spots.
Elm Street 2 is the black sheep, but it's the one I defend because of the psychological aspects. It was trying to not be Wes Craven's movie, and it succeeds because it isn't trying to mimic Elm Street 1, it is its own film. I would love to go more into it, because I have legitimate defense for why Elm Street 2 is actually the better film out of the entire series. It's more creepy, unnerving, dark and uncomfortable. Jim, if you should decide to do a Movie Defense Force for Elm Street 2, I'd love to hear what you think about it.
Elm Street 3 is actually not the 2nd best, it's just more technologically advanced. Special Effects do not a good movie make. It is fun, but no where near as enjoyable as many people make it out to be.
Elm Street 4 is fine, but monotonous. By that point, it was Freddy Jumping the shark.
Elm Street 5 is the worst of the entire series. A pregnant woman being involved with the story would make an entertaining idea, but it isn't used to near its full effect, and with the only highlights of the film being the deaths (which aren't that good, unrated or not), it's by and large, the worst film.
Freddy's Dead is silly, with cameos abound and a Looney Tunes like Freddy for the majority of the film, but as bad as it is, it's still fun to watch.
New Nightmare is probably the 2nd best, after Elm Street 2 and 3. It used whatever Wes Craven could salvage out of the monster he made in 1984 with Elm Street 1 and condensed it into an uncomfortable and brilliant meta film.
FVJ isn't a bad movie, but I do agree, it felt rather anemic, at least, from what I can say of Freddy's Films.
Still, not a bad film.