According to the book I read recently, only the last story is really representative of HP Lovecraft work. Let's compare with the selection in that book, a french edition called "The Colour out of Space". Briefly, in this edition you find a progressive assimilation of each protagonist in the alien world while reading each different story. "The drowned" is all right but not like the awesome "Dunwich Horror" and "The Shadow over Innsmouth". "Cold air" is a good story but with no trace from the Lovecraft's aliens just a kind of Frankenstein. Furthermore, that last story is unrecognizable from the original: the characters are not of the same type with a totally different role (if this could be called a role). The aim of the aliens is not clear. The means to achieve their aim is not logic or clear. All is a pretext to gore and only that ! Finally, I think this film lost it's goal: you cannot make a good film on Lovecraft work with only 3 stories which have no progression or logic between them.