Let me start by saying that I can't believe this is a free game. The production quality is outstanding! I've had games I've paid for which weren't half as beautifully laid out and produced. I wish all game makers made product as lovely as this is. Not printer friendly mind you, but I use a tablet so it's not a big concern for me.
I remember seeing Phantasm back in the old days. Plus Killdozer, Hellraiser, and the original Salem's Lot. I remember being scared witless by that shiny ball with the spikes in it. And I'm thrilled to find it here, in RPG form.
What do I like about Phantasm (2010)? Character creation is fairly quick and easy, using a point buy system for both attributes and skills. And I like the fact that the level of Badassery of the characters is customizable from Joe Normal to Samuel Jackson on a good day.
I also like the system, which seems to be fast for play and simple to remember. It's a set of rules that you can teach anyone quickly, and not have them always asking "what do I roll now?"
It also has a nice little campaign setting built in, with some good suggestions on how it can be used, as jumping off points for GMs. But the setting isn't so locked in that groups are trapped in system-given storyline and the only way out it so basically scrap everything they give you and start fresh. And I like how they wrap it all around The Tall Man.
What didn't I like about Phantasm (2010)? There are a few minor quibbles about the editing. There are one or two Techniques (such as Boom! Headshot) that are referenced but I couldn't find in the book. And there are a couple of instances of Techniques (Critical Attack for example) that say if you roll a natural 12 you automatically hit, but earlier on we're told you need to roll low to succeed and a natural 12 always fails. But really these are minor quibbles easily fixed or house-ruled into submission.
One thing I did miss is the lack of a "supernatural" system. There's no magic except what the creatures have a creature abilities. There is an attempt to use "faith" as a means of countering monsterly-evil but it doesn't seem developed enough to my thinking. There's no way you're making Willow if you want to run a Buffy vs the Tall Man type of game.
I think the biggest issue that Phantasm (2010) suffers from is indecision. It's almost like it should be two products. It tries to be both normal Joe Normal vs the Evil Dead AND Ash with his chainsaw, but the two are to me very different sorts of things. In the movie Phantasm (and others in that category) the characters are really just normal people without special skills who are forced to battle unnatural monstrosities. But the system is far more geared toward a grindhouse sensibility with characters able to have dual-wield capability and combat masters starting the game with twin AK-47s. And the equipment section has a weapon list more geared toward a special forces game than a horror game. Don't get me wrong, I can appreciate the effort in producing such a list, and it makes it a snap to play a "28 Days Later" game. But 28 Days Later isn't Phantasm.
Overall I'm happy with Phantasm (2010). You can't beat the price or the production quality. There's a lot there to work with and it looks like it would make for a good pickup game or even long-running campaign with the right setup. For the spirit I'm looking for I'd only ever run it in Badass-normal mode, on the Joe Average end of the spectrum, but that's just me. I'm happy that the system will let me do that. I gladly would run or play this game.