It's hard to be cruel to the film in light of the troubled production history - and it's a fool that continues to compare every sequel to the original (the 70's are dead, folks - studio and audience tastes have changed).
The film is quite well paced, the performances are - generally - strong, but it is let down by a ridiculous exorcism at the end that veers into OTT campery that would make Joel Schumacher blush!
If anything, the film suffers from being the dumbed down version that the studio wanted instead of Paul Schrader's original (now released as "Dominion").
Extras are limited, but Harlin's commentary is frank and the trailer is noteworthy because it's for Dominion!
Not as terrible as everybody makes out - but more of a curio than something you'd like to own because it's a fantastic film. It isn't, but it isn't the worst movie ever made either.