I bought and watched Texas Chainsaw Massacre: The Beginning recently, and here's my thoughts.
It does get a few things right. It works better than the remake, because it manages to get the family asthetic that said remake was missing. Also, it manages to bring in some dark humor, which was in the original, and missing in the remake, therefore managing to actually successfully get that aspect right. Also, the acting is strong, especially R. Lee Ermy as Sheriif Hoyt, who steals the show (unsuprisingly) and Marietta Marich as Luda May.
Now for the bad
Its not scary. Sure, its gorier than the remake, and theres the requisite torture, but there's no scares. The director seems to think that adding on torture after torture, and gory setpieces will make it scary, but it doesn't. If anything, it begins to feel repetative.
Hoyt, while a great character, should not be the main villain. The villain who deserves the most focus it Leatherface, and he just feels like a supporting character. Also, the explanations of Leatherface's origin are...poor, to say the least. It feels less like the beginning, and more like the same story we've seen before. Oh, and making Hoyt a sexual pervert really doesn't work either, and the one aspect of the character that should have been left out.
Finally, the subplot involving Vietnam and the draft dodging brother is the weakest element. It feels like the director and writers were trying to make some sort of statement, but the subplot just slows the movie down-until Hoyt comes into play, and makes it interesting-and is underwritten and dull.
All in all, its not good, but its not a total disaster. I'd give it 5.5/10 or 6/10.