The thing that bugs me most about this film is that if it was done properly it couldve been a really good movie. The basic story was interesting, but it is mostly ruined with a fake looking shark who has developed a fixation on eating a whole family.I agree brendan, I heard that the director of Jaws: The Revenge considered this one to be the 'real' sequel to the original, how wrong he was.
Still, I have watched it a few times.
Maybe I'm giving it too much credit, but if someone had actually re-read the script (preferably while not drunk or stoned) the film could have been considered as a worth sequel.