Poor overall, I do like the idea though.
'The Fog' has been absolutely obliterated on Letterboxd, 1.6 average rating is major yikes. I, honestly, don't think it's quite that awful but I fully understand the dislike this has. For me, it wastes a good concept.
I actually don't mind the special effects, sure they aren't anything amazing but I never really felt let down by them; the only times it bothered me, in truth, was when there's a huge bundle of fog. For the "natives", though, I thought they looked fairly neat.
The film definitely goes on for too long, while the ending is terrible. Acting wise I think it's OK. Tom Welling (Nick) and Maggie Grace (Elizabeth) are passable, the rest of the cast give pretty lame performances granted.
Bad, but not that bad in my opinion. Remakes always tend to make people more annoyed, especially when they've seen the original. I haven't, so I guess that plays a part.