Oh yeah, this had a PROFOUND effect on me as a child and not only because it made me want a wooden Indian... and still honestly want one. But also because the stories were just fun.
Scary fun when you are a little kid. Not so scary fun when you are an adult, but... fun. I grew up in rural America in the 80s, parents really didn't censor, they would take you to see Robocop and Nightmare on Elm Street, because there was more faith in children then.
Somehow that became wrong.
I don't really remember going to see this in the theater. I do remember seeing a cartoon of the lake segment. I do remember catching this on HBO one weekend, and I totally remember renting it for sleep overs.
And it ALWAYS was a win, especially when you know the other kid hadn't seen it yet. It was like Evil Dead II in my high school years. They haven't seen it yet? Yeah, we are renting that, you are going to love it.
So it still has that place in my heart and, when I watch it, it is still fun. It is still imaginative. It is still entertaining.