This guy agrees with me.
The story goes like this: a group of students searching for
a professor in a wooded area stumble across an old man who
leaves them with a bizarre book. They begin to have run-ins
with strange monsters.
I remember seeing the ads for this movie on after-school
television in the early seventies, and I had the chance to
see it in the local theater. I was thrilled to finally get
a chance to see it. I'm also glad to say that I was not
disappointed; it has a real power to it, despite the
obvious cheapness and the long shooting schedule which
results in characters aging before your eyes. It has a
compelling sense of Lovecraftian evil that I find
fascinating. The movie features Frank Bonner, later
of "WKRP in Cincinnati", and science/fiction fantasy author
Fritz Leiber as the professor.
Sam Raimi obviously watched this movie before he did his Evil Dead series.