These are what we call the 'YMMV items.' Things that some people find in this work. We call them 'your mileage might vary' because not everyone sees these things in the same way. This starts discussions in the trope lists, a thing we don't want. Please use the discussion page if you'd like to discuss any of these items.
Even Better Sequel: There are some fans who believe this, and consider it even better than the original. That fact that it's widely regarded as the best of the entries that Craven didn't direct helps.
Fridge Horror: The souls of the people Freddy kills gives him strength, now imagine all the deaths from 1, 2 and 3 up to that reveal. That's about 21 people he killed on screen and counting.
The fact that he collects their souls at all adds new levels of creepiness to all the scenes where little kids appear in his victims' dreams. Were they not just dream-imagery, but the same little kids he'd murdered when he was still alive, forever bound to do his bidding and lure others to their deaths?
Memetic Mutation: Sister Mary Helena (Amanda Krueger)'s line regarding Freddy's conception, "the bastard son of a thousand maniacs", is rather memorable.
Special Effects Failure: During Kristen's first on-screen nightmare, as she's running down the hall carrying the little girl, it's pretty obvious she's actually carrying a doll or mannequin.
For some reason, the sound of Freddy's voice is completely inconsistent. Half of the time, he has that demonic vocal effect applied to his voice, making him sound demonic and inhuman. But half of the time, the effect is totally missing, and he just sounds like Robert Englund. Sometimes this switch happens in the middle of the same scene; a few times, even in the same sentence! Perhaps most notable are a few particular moments, where the deep voice is there, but sounds rather basic, as though Englund's voice has been deepened but nothing else has been applied. Maybe the sound designers ran out of time?
Squick: Joey is having a dream where he is making out with a hot nurse... who turns out to be Freddy in disguise. Sweet dreams, everyone. It was going to be even worse originally: Freddy's head was going to be on the naked nurse's body.
Surprisingly Improved Sequel: This film is considered a markable improvement over Freddy's Revenge, which while not completely bad, deviated too much from the first film's plot.
They Wasted a Perfectly Good Plot: The whole "special powers in your dreams" thing never amounted to much. At best, characters just briefly delayed their deaths by bombarding Freddy with attacks that were just minor annoyances, and in the end its not the powers or teamwork that beat him, its Neil shoving his corpse into a hole and attacking it with holy water and a crucifix.
Although the combination of powers and teamwork does allow several dreamers to stay alive long enough for Neil to get the job done, giving this film's teens a better rate of survival than most entries in the franchise.
What Kind of Lame Power Is Heart, Anyway?: The heroes discover they can use dream powers. Kincaid gets super strength, Taryn get two switchblades and the skill to use them, Will gains magical powers and Joey gets something like a sonic scream. Kristen...can do gymnastics.
Kristen's real dream power was always her ability to draw others into her own dreams; the gymnastics were a secondary power.