MINOR PLOT SPOILERS
It's a strange one this film. It's bloody scary, and the photography is brilliant. However it's important to note that it's based on a collection of real events. The bits about there only being one survivor, and the killer never being found, it's a collection of things from different stories. As Eric Morecambe might say, it's all the right facts, but in the wrong order.
Ivan Millett killed quite a few people, yes; there was also one bloke who got a life with him and survived. But there's no case of him killing some people but others in the same group getting away, which is of course the central dynamic of Wolf Creek.
Really, this makes a mockery about it being real life. One can make any story by linking disparate, unconnected facts.
So, I'm kind of undecided. It's scary as fuck, but only half a story really- it ends rather quickly, doesn't it? And perhaps the scaryness is just a result of it's sheer brutality, I don't know how original it is.