Elm Street was pretty much pointless. Some good ideas but It only succeeded in making everything lamer and less visually impressive than something from 1984. Freddy's face, Tina/Kris's death, the face coming through the wall etc. They even copied the 'bring him into the real world' that didn't work that well in the original.
What really annoyed me is it was set in Springwood, IL. That setting was introduced in the 1985 sequel, the original is set in Los Angeles.