The only thing worse than a serial killer movie is a pretentious serial killer movie. And "In Dreams" is as bad — and pretentious — as they get.

Looking at this half-baked, hackneyed, fantasy/horror flick — which tries to fuse "The Eyes of Laura Mars" with "Psycho," and even some bits from "Snow White and the Seven Dwarfs"! — it's hard to believe a cast that includes the likes of Annette Bening, Robert Downey Jr. and Aidan Quinn would have anything to do with it.

Odder still, it comes from Neil Jordan, a filmmaker with a proven track record. Even those who don't like his movies (which include "The Butcher Boy" and "The Crying Game"), usually respect them.

But this very loose adaptation of the best-selling horror novel "Doll Eyes" far exceeds anything Jordan has done . . . just not in the way he intended.

Bening stars as Claire Cooper, a book illustrator suffering from troubling nightmares: premonitions of a madman, Vivian "Red" Thompson (Downey), who is responsible for the abduction and murders of several young girls. But no one, not even her husband Paul (Quinn), will believe her . . . until it's too late.

First, their daughter Rebecca (Katie Sagona) is kidnapped and killed. Then, the increasingly suicidal woman begins experiencing the dreams more frequently and much more vividly.

In desperation, Paul has Claire committed, under the watchful eye of a psychiatrist (frequent Jordan collaborator Stephen Rea, sporting an awful New Yawk accent). But Red begins manipulating Claire subconsciously and directing her toward an inevitable confrontation.

Unfortunately for Jordan and co-scripter Bruce Robinson ("Jen- nifer 8"), none of this is remotely scary. Instead, it's alternately repulsive and laughable and probably won't elicit any of the requisite jolts (especially the ending, with its unintentional nod to the first "Candyman" movie).

However, kudos should go to production designer Nigel Phelps, whose imaginative sets and costuming are the film's only real indications of talent.

As far as the actors are concerned, Bening gamely tries for about an hour, but then succumbs to hammy hysteria. And frankly, Downey is more frightening when he plays things straight in other films than he is here.

"In Dreams" is rated R for considerable profanity, violent stabbings and other attacks, gory makeup effects and gruesome images and a brief sex scene.