Yeah it looks hilarious. I haven't had a chance to see it. I did, but then I picked THEY LIVE instead. Wicked movie.
I saw that on my Comcast On-Demand. Kind of boring, didn't care for it.
As for the It's Alive movies, I have those 3 on the separate Warner Bros. DVDs. The first is a very good movie, the third is one of those movies that a bigger budget I think helped to be very entertaining (it's a really refreshingly original kind of horror sequel, but then it's Larry Cohen and his horror usually has a quite refreshing effect), the second movie was not good. I can't say it any better than that. Just sat there and didn't do very much, kind of rode on the first movie's coattails. No new ideas that I thought really worked.