It makes SAW II look like a Disney movie, but none of it beats the foot cutting scene. I think you'll love it, except for the ending, if you liked the first two movies.
SPOILERS BELOW!
There is some nudity in the freezer scene, but it's because if Danica were to wear a shirt, it'd stick to her breasts and make it all sexual, plus it kills her faster trap-wise. And the beginning does have one escape scene with Det. Eric Matthews that totally beats the SAW foot-sawing scene.
END SPOILERS!