Braindead was great, I love Nightmare on Elm Streetish type movies. Shocker is another good movie like that.
I havent seen rawhead rex yet, but i think it was made by clive barker so i'll have to watch it sometime.
Hmm, i'm trying to think of some good low budget movies that arent dawn of the dead, evil dead ,texas chainsaw massacre, re-animator,dead alive, or any other really famous ones.
How about The Hitcher with Rutger Hauer. Its more of a serial killer movie, but its still horror. There's also the best vampire movie ever Near Dark.Lance Henriksen fucking rules.They Live is awsome but its more of a sci fi.Session9 was ok.
The Convent, now that is a great movie. It has on of the best opening scenes in any recent horror i can think of.
I cant really think of any other kick ass low budget horror that no one has heard of before.