Don't know if anyone else has seen this yet, but it's well worth a look.....
Something crashes into the sea off the coast of a small Irish fishing town...involves lots of tentacles, alcohol and an impressive array of improvised weapons. Similar in tone to Tremors, lots of fine and some nice monsters. Given how good CGI is these days it's a shame not see a "proper" HPL adaptation...but in the meantime films like this are good fun
http://www.youtube.com/watch?v=uC4GlNAD5ZA