I rented it a few years back, before I got really into hiking or exploring this area. I'd probably appreciate the local scenery more now. I didn't even recognize anything the way I would now. I believe some of it was shot around Saugerties. Maybe I'll get it again some time.
I think the movie's worth a look at the very least, although I do know one person that absolutely hated it. It involves a young couple that meets a "drifter"-type character, and the tension that ensues. They actually do take a hike, the results of which are a major part of the plot. There is some interesting symbolism. The characters are perhaps somewhat cliche.
But, yeah, Head, I'd say check it out. As a film-type person yourself, I'd be curious to see what you think.
Matt