This is a moderately interesting little movie, if not pretty forgettable.
Staring Brian Bonsall (who was on Family Ties for three years), Mikey's a story of a psychotic kid, though without the flair of The Bad Seed or the religious nature of The Omen. Just a kid who gets off on killing people.
It's a simple affair, and Bonsall does his role pretty well. Generally speaking, most of the main cast does also. Mikey's adoptive mother, played by Mimi Craven (who had a small appearance in the original A Nightmare on Elm Street), is memorable in her role. Whit Hertford (Jacob from the fifth A Nightmare on Elm Street and also having a minor scene in Jurassic Park) was pretty decent as a neighbor of Mikey's (though really, he never goes anywhere).
Lyman Ward (who, funnily enough, had a small role in Freddy's Revenge as Ron's father) was pretty fun as a school psychologist, though I wish he had gotten more scenes. Quite attractive in her role, Josie Bissett played Hertford's sister pretty well, though again, like Ward, I wish they did a little more with her in the movie.
The unsurprising standout, though, is Ashley Laurence, who is most well-known for her role of Kirsty from the first two Hellraisers (well, and Hellseeker, but let's not talk about that). Mikey comes across as a lower-budget flick, so how they got Laurence, I don't know, but she shines in every scene, and her interactions with Ward were always enjoyable.
The thing that stands out most about Mikey, Laurence aside, is the low-budget feel the movie has. At times, it reminds me of The Stepfather, in that it occasionally feels much like a television movie. While there's not really a ton of gore (the most common form of execution is electrocution), there's a few solid scenes of individuals beaten with hammers and bats, or shot with arrows. For the most part, though, they don't really stand out one way or the other.
One small last thing, the setting of this film, being Arizona, was sort of interesting. While most of the time you couldn't tell one way or the other, a few of the shots that showed the moderate sparse locality just felt interesting. For one reason or another, though it made zero difference insofar as the plot's concerned, it stood out to me.
Mikey's occasionally slow throughout the film, but with as many interesting actors and actresses as there are, I was never quite bored. The final twenty minutes were pretty fun (as was the entirely expected last minute), but I wouldn't quite say the movie was entirely worth watching. Having seen it twice, I personally find it a decent flick, but it's one of those movies where it's not quite good, but has some charm to it. I would probably put Mikey somewhere marginally above average, but if you go in looking for The Omen, or even The Good Son, you probably won't be happy. 7.5/10 (rounded down to 7/10 to fit site's format).