I agree with you. ring was absorbing and naomi watts absorbing. story and direction was good, pace carried on well and the touch of japs and the final discovery of the mother drowning her child really were real seat jumpers.
Have you ever heard of Japanese horror movie "Ringo", the Ring was was copied from this movie...
Korean and Japanese produces best horror movies, Popular ones are; Ju-on 1 & 2 (English remake is Grudge), R-Point, Red Eye, etc