Scream was a superb post modern horror film, looking at the absurdities of a terrible genre and making them work for it
The film was actually pure genius. Early/mid 90s was a
**** stain on the horror genre and literally its lowest point ever. Horror was dead. Scream comes out and basically pokes the dead genre with a stick and laughs at it. The film is literally lightning in a bottle.
I used to laugh at people who acted like this was a real horror film. Its not. Its comedy/borderline satire. They even let the crowd in on it for
**** sake. The opening scene is basically spoofing every babysitter in a horror movie scenario, most notably the original When A Stranger Calls.
Ironically this film kick started a new horror boom.
I actually like certain elements of Scream 2, but its practically spoofing the first one, and fails on several levels. Scream 3 was made strictly for money. Doing Scream 4 goes against everything the first movie was about, so I'll pass regardless of who is in it or how good/bad the script is.
Like I touched on earlier, I would go the remake route and make a statement on our remake culture like the original did with 80s horror. Once again, just let the audience in on the joke, add a bit of genuine scares to it, and it'll work.