Also, what do you think of Wan turning this into a series about the Warrens, Formiga/Wilson reprising their roles in a sequel which hopefully will explore another real-life investigation (hopefully Smurl/Snedeker/Amityville)?"
I finally saw The Conjuring last weekend, and I while I had some issues with the narrative's coherence (as I'll explain in the review), I can't quibble about how effective many of the scares turned out to be.
In a sense, that was the exact same argument I made about another film from the same director: Insidious. It often seems to work in-spite of itself.
I am torn, I must admit, about the notion of a series of horror films about the Warrens, because I feel the subject matter would work better as a TV series.
A TV series could allow more depth, and would be relieved, essentially, of the horror film's obligation to play with structure.
I worry that a series of movies about the Warrens won't, ultimately, prove that scary, because we are guaranteed their survival.
The same would be true of a TV series, I guess, but there's a different set of expectations there. We know we are going to follow the same characters, week-to-week, and thus suspend disbelief about their survival or the episode's sense of surprise. Horror usually fails to be scary, if it becomes too familiar.
That established, this isn't a dig against Wilson or Formiga. Both of them did an excellent job in the film. I felt their performances were top-notch.