However, I like the very rare horror movie that chooses to go the psychological route vs. the hack and slash method
Agreed. Most modern movies don't take the time to properly set-up psychological suspense. Most rely on creepy music with something jumping into the camera frame.
As for Stephen King--I've never been able to read one of his books. Maybe I should give 'em another go. I'm a huge fan of his non-horror movies--"Stand By Me," and "Shawshank Redemption." I haven't seen "The Green Mile," yet.
