Just saw Tesis (Thesis, 1996). Similar to Red Rooms, but more of a mystery thriller than a meditation. A college student accidentally stumbles on a snuff film, and tries to discover who's behind it.
There's a lot of glaring plot holes (like, wouldn't you just go to the cops immediately?), but if you're willing to overlook them and just go along for the ride, it's actually surprisingly decent. It did keep me guessing. And like Red Rooms, most of the violence is not really seen, but more heard, so it's not really much of a gorefest. The ending also had a pretty clever and wry commentary on violence in the media.
Sadly, it's really hard to find... we had to rent it from Vidiots. It doesn't really seem to currently be streaming anywhere.