Can Horror be Horrifying AND Hilarious?

I watched the sequels to Sleepaway Camp over the last couple nights. Good stuff, very campy, but missing the grime of the original in production value.

The first one though, pretty classic, right? But when getting into the whole cheesy horror flick thing, can a good horror movie be hilarious and cheese and scary?

Dead Alive, Evil Dead, Return of the Living Dead, even Aliens, does the comical dialog and plot-jumps overpower the feel of isolation, eminent doom, or a waiting death?