I'm going to let the trailer do a lot of the talking here.
Yes! It's one of these! A classic anthology. (I LOVE anthologies!)
As I mentioned in a previous post, horror movies have circled back around to using short formats. Personally, I feel that this kind of storytelling is horror at its best, and not only with films. Short stories are punchy, like quick scares as you move through a haunted house.
The tales in Vault of Horror aren't necessarily scary, more like macabre and twisty. They're more about developing atmosphere than seeking out a Boo! moment.
Bottom Line: This is Halloween to me--Hammer-style horror, a night with the lights off and the TV on, and creepy organ music and English accents!