Yes, Michael, I most certainly would!
Anyway, I actually dig homage horror. I understand the plight regarding first-time filmmakers and their desire to project a story harking back to their youth. Which I'm sure they'll be happy to note. I think it's a sweet, heartwarming affair: passionate filmmakers, not corrupted by the lure of Hollywood, wanting to create a film specifically for horror fans. Sigh, it's romantic.
Recent horror films paying homage which I loved:
Grindhouse (2007)
Okay, so Quentin Tarantino and Robert Rodriguez's joint venture pretty much flopped -- a fact that still irks me today: the films were torn apart for release in Britain, and our local cinema didn't even show Planet Terror! Oh, but they had the nerve to show Bratz (2007). Cineworld I may park my ass in your seats, and savour your popcorn, but you're still a heartless bastard!
The trailer for Grindhouse is one of my favourites, and spent a good few months circulating around my Myspace. It sets the tone and general kick-ass fun of the film.
Slither (2006)
An ode to Writer/Director James Gunn's favourite horror films. Slither is a sci-fi, horror comedy with elements of Night of the Creeps (1986), The Blob (1958), Invasion of the Body Snatchers (1956), Shivers (1975), Society (1989) and many more. The film follows fan favourite, Nathan Fillion, a sheriff as he battles against slug-like aliens who've invaded his home town.

Hatchet (2006)
Echoing the gore-drenched slasher flicks of the 80s, Hatchet proudly describes itself as "Old school American horror", literally on its sleeve. Kane Hodder and Robert Englund also have cameos, with Hodder doubling up his roles as villain, Victor Crowley, a particularly savage guy, who's prone to ripping his victims a part with his bare hands.
And also to note is Jack Brooks: Monster Slayer (2008). Expect a review coming soon. If you haven't seen it, then I heartily recommend that you do so.