I saw this once many moons ago and loved it. I've since picked up the Kino DVD, I really must sit myself down and watch it again, along with Der Golem, Nosferatu (3 versions), Vampyr and Faust, which are all sitting on my shelf and - to my shame - remain unwatched. I might rectify that this coming weekend.
It's interesting that German expressionism is being mentioned. This is pretty much acknowledged as the roots of Euro horror, just as the Edgar Wallace mysteries are a supposed influence on the Giallo. I must dig out Pete Tombs' Immoral Tales again, as it's all covered in there.
And for those interested in early silent cinema, the film Shadow of the Vampire with Willem Dafoe and John Malkovich is an absolute must-see.
I also think this is why Herzog's Nosferatu The Vampyre is such a favourite. It simply oozes atmosphere and dread, much like the early silents were so capable of doing.