Chronicle is the Blair Witch Project of the super hero flicks.
The good. Surprising. Funny. Immersive.
The actors. Dane DeHaan, Alex Russell, and Michael B. Jordan who play the main characters give us a very good performance. You really get into the mood of those guys goofing around, it's crazy. DeHaan, who played the troubled kid, is even excellent. Nice ending.
The bad. At some point, the hand-held camera premise got a bit constrictive and they had to find an other camera totting character, the blogger. That was one too many, and you loose the intimate feeling of the group.
The ugly. When they couldn't keep the hand-held camera premise anymore, they shifted to include CC camera. There's even a shot done from a point of view where there's no "naturally occuring" camera.
The result. Really worth the seeing, just don't expect perfection.