Read more on Colin, reportedly a £45 movie that got a cinema release: Guardian article; BritMovie.co.uk forum thread; is the true budget much higher/is it all hype?
Further articles linked from IMDB entry.
The trailer, naturally, is a tad gory, but search YouTube and its easily found. Below is a piece from SkyNews with the director interviewed.
If you can stomach a bit of gore, compare any scenes you've viewed from Colin with some IGS student work, and decide for yourselves what gap there is between a film that has found a UK distributor and a production edited in F6: see http://ellisclarka2.blogspot.com/2009/10/final-cut.html
Ellis' production was a teaser trailer, with a comedy/spoof element, but even so, the comparison is interesting...