Gorgeous Norwegian snow atmosphere make it a little more unique than most slashers. It has better acting than normal too, but is unforgivable that the best eye candy girl gets offed first. The script is a predictable "madman kills the young people" plot and the film has the script of a classic 1980s genre movie, but since it is the first ever Norwegian big-budget genre movie I'm a little more forgiveable than usual.
Very run-of-the-mill slasher film that may sport a unique setting-- but so what-- and a likable cast, yet the viewer doesn't know much about the character's other than that they seem cool to hang around with. The filmmakers obviously wanted to make a straight, no-nonsense slasher film, but Cold Prey is a knockoff of the type, rather than a trendsetting film of its own.