According to IMDb, and our beloved IMDb never lies, "Once Upon a Midnight Scary" is only one episode in a series called "CBS Library". I never heard of it before, and probably never will bother to seek out the other seven episodes, because the sole reason for me (and I guess for most people) to see this is Vincent Price. The greatest actor of all times does here what he does best and what he also loves doing the most, namely using his uniquely ominous voice and natural charisma to narrate spooky tales, and to simultaneously promote a form of art/culture. Clearly the objective of this anthology, and the whole "CBS Library" series, is to encourage people to read more! Who can deliver such a message better than the almighty Vincent Price?
So, basically, this anthology movie exists of a wraparound story and three creepy tales that are based on books, and they are meant to make you curious enough to read the full books. Clever! Didn't work on me, though...
The short stories are adequate, except that the first and second story are too short while the third one is too long. The first one, "The ghost belongs to me", is completely unknown but feels very familiar. It revolves about a young boy who's the only person to see the ghost of a deceased child and she warns him about an upcoming tragedy that can prevent. The second and third story, respectively "The Legend of Sleepy Hollow" and "The House with a Clock in its Walls" are quite famous nowadays, thanks to successful film-adaptations by directors Tim Burton and Eli Roth, but I'm guessing they weren't yet well known in 1979 when "Once Upon a Midnight Scary" came out. The "Sleepy Hollow" story is fun but too talkative and cut too short, whereas "Clock in the Walls" is also talkative, too long, and rather childish. Not really recommended, except if you - like me - desire to watch literally everything Mr. Price ever starred in.