Cloverfield is a really interesting alternative to the giant monster movies made popular by the Japanese film studio Toho.
The film takes a totally different approach to story telling from the usual action films. It adopts a documentary home-movie narrative that stays throughout the film, following the survival of a group of friends through New York during a terrifying monster attack.
The scenes of New York, devastated by the attack are spookily similar to those from the terrorist attacks of 9/11. That with the false reality the shaky video camera provides almost makes the film feel authentic. The director Matt Reeves has really used this footage well in creating a convincing scenario.
This is very different to your usual Hollywood blockbuster and although I enjoyed it, its probably not to everyones taste. Its basically The Blair Witch Project crossed with Godzilla, if you liked elements of either go check it out.