I rewatched A Nightmare on Elm Street, first time in, dunno, 20 years? I still find it very effective. Which is weird, as Freddy can seem somewhat goofy at times. The first time you see his whole body, he has these weird, long arms, and then runs while whirling his arms around - and yet, the scene is still terrifying.
The ending defanged him pretty heavily. After protagonist girl realizes, that she has control over her dreams, he immediately becomes powerless. At the end, he isn't scary anymore, just pathetic. Makes it pretty weird, that he will come back and not being defeated immediately, again.
I mean, then there is the last scene, which was really great. A sunny day, the others are alive again, they get in the car, but it's Freddy! Super creepy contrast, with the sunshine, when he was always just there in the night, hidden by shadows. I'm a bit confused now, but I guess the second movie will give the first one some form of canonical ending.