Wolf Creek has a completely standard basic story for this kind of genre movie - travelers in isolated location encounter sadistic nut. Despite this, it's what writer/director Greg McLean does with the details which makes a difference.
The outback locations are rendered with a nice eye and evoke a sense of spooky isolation - anything could happen to you out here and no-one would know, much less be able to help. There is also the much discussed 'dark side of Crocodile Dundee' element - frankly, I can't believe it's taken so long for someone to conjure this one up, and McLean clearly delights in stabbing a knife through the heart of the mythical Aussie archetype. I think he's actually gotten to an uncomfortable, close-to-the-bone truth about the psyche of certain Aussie males, and John Jarret is eerily similar to the kind of individual one would encounter in many a country pub down under.
The fact that this is an Australian film also makes it a rare bird indeed. For some unfathomable reason, the Oz industry rarely does genre, and when it does, usually doesn't do it well. With this in mind, Wolf Creek is something of a breath of fresh air. Yes, it hews pretty closely to the codes and rules of its genre, but for the most part it does it well, and for my money, what works about the film is strong enough to make some of the weaker plot moments forgivable.
Will Gibson's HD camera-work is impressive, maintaining a consistent style from start to finish, aided by solid editing, score and sound design. Now maybe people will stop whining about how 'we can't make genre films here' and we might see some imagination and variety creep into Australian cinema.
