The “found-footage” gimmick is applied to the teen-party genre, with mostly lousy results. The script for this movie is no better than one of the American Pie direct-to-video sequels. While a bunch of teens getting together and throwing a wild party has been funny in the past, it is not funny here, thanks to a mostly unmemorable cast. Very few of the gags work, and this is all stuff we’ve seen done better before. However, Project X is making a ton of money, and a sequel is already in the works. The found-footage thing is here to stay. Dammit.