Ok, here's the review I posted over on the message boards.
Saw III. Easily the best one yet. The traps are even more elaborate and horrifying, with a few very difficult to watch. However, the most bloody ones are dealt with at the beginning of the movie, and then gore gives way to an intense human drama, but don't worry, gruesome traps are still insterspersed throughout, including what has to be the most brutal device in the series so far, Jigsaw's own version of the rack. The characters are very well-written, with backgrounds given in flashbacks that never drag the main story down, only heightening the tension. Not only do the characters have Jigsaw's traps to contend with, they must now face the demons within themselves and their pasts if they expect to pass Jigsaw's tests. The traps now not only test their will to survive, but their humanity. You can figure out the twist about 20-30 minutes before it actually happens, but surprisingly, it only makes the situation even more tense. The filmmakers were very smart they way they pulled this one off, it's a very tight film, making this one of the best horror movies in recent years (although, granted, with the slew of teeny-bopper PG-13 "horror" dreck that's being churned out lately, that's easier to accomplish than you'd think) as well as a fantastic horror trilogy.