Phantasm is probably the best horror franchise that few have seen. I mean, the first film can be considered a bit hokey now, due the simplified special effects, but the acting still stands as powerful as it was before.
Some of the fifth film, known as Phantasm 1999 and Phantasms End, ended up used in OblIVion, such as the ball in the boobs scene.
As much as I'd love to see this last film, it will probably never happen. We'd sooner see GB 3 before another Phantasm film.
Also, the poster who mentioned the Phantasms End script; where did you find it? I've been interested in reading it for years now.