They did get around to Phantasm 5 Ravager. Unless you are a fan of the series(which I am) it probably will not seem all that good. We do get some real clarification and closure if you understand Don Coscarelli doesn't see the world in quite the way most people do.
His movie John Dies In The End is required watching if you like Phantasm. It is based on a horror/comedy novel by David Wong. Ravagers commentary track is pretty good as well. How they worked around having no money or permission to film in some areas is fun. Also Angus Scrim aka the Tall Man got to see the finished movie right before he passed away.
I heard they did Ravager on the cheap but that probably won't bother me if I get closure on the story. I'm about to find out!
I did see John Dies At The End and I remember the trailer looking pretty good but not enjoying the movie all that much. But I actually don't remember much about it. Maybe I'll give it another shot.
I keep seeing the ad for Incident On And Off A Mountain Road on these Phantasm DVDs, I wonder if that's any good?