My no. 1 favorite of horror/splatter film is "Re- Animatior" (1985) by far! It´s a masterpiece!
Everything about this film rocks, the dark atmosphere, the twisted sense of humour, and the excellent performance of Jeffrey Combs in the leading role. Other favorites of mine in that genre include:
"Santa Sangre" (1989).- This one is just incredible. Made by one of the most unique visionaries of cinema history, the Chilean Alejandro Jodorowsky. "Santa Sangre" is at the same time the weirdest, sickest, funniest and the most original horror films I´ve ever seen. This masterpiece is a must- see for anyone open minded enough to enjoy it.
"Bad Taste" (1987).
"Braindead" (1992).
"Black Sheep" (2006).- What´s not to love about a film which centers on sheep going on a killer rampage?
"Audition" (1999).- Maybe some would see this more as a "psychological thriller", but this film is to me more of a horror film, it´s pretty fucking gory and full of dismemberment. Anyway, this is by far Takashi Miike´s finest film (next to "The happiness of the Katakuries"). It´s just awesome!
"Ichi the Killer" (2001). - Another wonderfully twisted contribution from Miike. This film is so bloody and brutal it´s just ridiculous. It has tremendous entertainment value for me, no matter what anybody says.
"A tale of two sisters" (2003)- Not many horror films have managed to scare me, but this one really succeeded. It has manages to build up some really dark and sinister atmosphere. The psychological study in the film also adds well to frightening atmosphere.
Gothic (1986)- Another good "psychological" horror film. It´s a very well made and a cool film.
"The Brood" (1979)- I really like Cronenberg, and I find this to be the best one of his early horror films. It´s pretty scary!
"Rabid" (1977)- Another good early Cronenberg film.
"Scanners" (1981)- I think this film is so entertaining and so cool!