I literally just finished watching 'A Serbian Film' (thanks for the warnings though).
I'm not sure what to think about it to be honest. I wasn't expecting it to be that well made (the plot was actually really good, especially if you see the underlying message relating to Serbia itself), it definitely has some of the most vile and extreme scenes i've seen in a film (the baby scene being probably the nastiest thing i've seen, and i'm sure it'll haunt me for a while, particularly the crying sounRAB), and the majority of the film made me feel EXTREMELY uncomfortable. I respect the film for making me feel like that though, it's obviously doing something right as a horror film if it's making me have an emotional response.
I'd only say watch this if you've got a very strong stomach for disturbing subject matters. It's not just the gore that makes it disturbing, it's the psychological stuff. If ever there was an adult film that should only be watched by mature viewers that can handle it, this is it.
I can't see it getting released over here at all. It'd be cut so severely that there'd be nothing left.