The idea behind this movie was excellent. Few students, building a time machine, having the best time of their lives, happy part, sad part and excellent plot twist in the end which made me have a "movie orgasm".
Movie has interesting story. You can see the process of building the time machine, the problems you go through while building it, love story (for some reason it is in every movie) and in the end paradox. Paradox is what makes time travelling movie excellent, without it there is nothing special. It is the magic that happens when you play with those things.
There are few moments like in the end of movie when camera hasn't disappeared what is strange and unexplainable, does that make camera Paradox-Resistant?
In the end, development of the story is main process behind the movie. They were making movie which will be a great success but they were just putting everything in that movie without explanation. Also, the way movie was recorded, the way for example "Project X" was recorded is very cool and it gives a special feel to a movie but sometimes it was just to shaky and it makes you vomit.
Maybe this movie should be redone with the same actors (I really liked the actors, especially female ones) and no one would notice because movie wasn't really successful.