I loved this when I was younger. It's fast paced, with lots of action, and there was a fair amount of gore (kinda). Re-watching it in a motel room on one of those TVs with the big fat back, though, I see that it's aged nearly as badly as my surroundings.
There is almost no character development, and the acting is pretty horrible throughout. I do enjoy plot lines where the characters are all chasing one another about, but it's done a little too ridiculously here. The visual effects have also aged badly (though not as badly as the famed Dwayne Johnson-scorpion-centaur from the second one) to the extent that what used to freak me out a bit is now merely cringe inducing - see Stretch Armstrong mouth Imhotep below.
The actual mummy wasn't frightening at all, though his acting was alright, and the only element that I could imagine giving someone chills now would be the American guy who looses his eyes and tongue - something about the way that he wails when he first looses them and apologises when he spills a cup of tea still gets to me, as well as the somewhat disconcerting way that the director/writers chose to wrap these scenes up with a comedy bow. Perhaps that was to take the edge off, but I find it much more creepy because of it than it otherwise could have been.
Those scenes aside, 'The Mummy' really wasn't scary at all. There are several decent action sequences though, and at its best the movie manages to be something akin to one of the worse Indiana Jones movies (so the second or *shudder* forth one, then).
This still doesn't save the film from the bad acting though, even before little orphan Anny from 'The Phantom Menace' pops up in the second one and starts fucking with things. Also, I preferred the villainous couple to the heroic one, and rooted for them throughout. So yeah.
The Mummy: 34.5