OK,
I've seen Blair witch project, but not the other one so will only comment on BWP...

a film set to look like the whole photography, action, etc was done via hand-held personal home video cameras (think funniest home videos/Survivor/Big-brother's video diaries... done as a horror film, lasting for 1.5 to 2 hours (can't remember exact time)

If I remember correctly (a number of years back now) the film did successfully create a genuine sense of suspense and fear in the audience...
however this may be due to the fact that while sitting there in the movie theatre for two hours watching a hand-held camera that moved around so much I really did (no joke) get motion sickness (aka travel sickness...) as I would if one were to sit on a roller-coaster for two hours.... I had to rush to the exit in order to throw up into the garbage-can


I guess it wouln't be too hard to do as a fanfic...

tips:

1. set it in the first person... I did this and I saw Jimmy do that...
2. Focus on the action not the scenery i
3.in slower moving parts personal reflections could be added about the scene...(OMG what a stupid thing for Jimmy to do... or other things one might think to oneself while reflecting on recent events)

4. Be creative with your plot the plot needs to be a big part and move as much as possible, because otherwise there will be too much reflections, and the suspense would be killed... but I suppose that is just my impression from BWP...


IN BWP the lack of background music is made up for as we hear a lot of breathing patterns and footsteps to fill in the blanks where the music once told us we are meant to be scared... this is now done by the fact that the characters are breathing deeper and/or faster


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