It doesn't look half bad but as Vander said, the trailer pretty much told the whole story. If the movie plays out like Silver Bullet did then maybe watch the trailer with the sound off unless you don't mind spoilers...
Big Bad wolf looks ok. I love Werewolf movies just about as much as zombie films. Once again alot have been made and most have suck-didly-ucked. This one looks kind of cool with the wolf having some attidude. I know there are a few more on the horizan but I am looking forward to this one - DVD rental that is.
P.s : your right about the trailer being a huge spoiler,
Yeah, thats the only thing I hate about the trailer....it being a spoiler. But, then again the figuring out the who the werewolf is isn't the main drive of the movie as it is killing it as it talks smack and spits out 1 liners.