I really enjoyed it, i think both versions have their strong points, i do prefer Lugosi as Dracula because although Bela does ham it up a bit he still has more presence i feel.The Spanish Dracula does seem a bit like another cheesy vampire wannabe, and seems to overdo the simple gestures that made Lugosi iconic.
Also i do really like Browning's Renfield.
But in many other ways the Spanish Dracula wins out, the Camera work and atmosphere is in many instances better and the Mina(Eva) character is more alluring and sexy in the spanish version i thought.
It's like many of these directors cut/alternate versions i feel, where a mixture of both versions would really enhance the original film.
For instance Apocalypse Now, where i felt some of the scene's should have been left in the original, but also thought the Redux version was too much and spoiled the flow and soundtrack of the original.
Also this may be sacrilege but i once made an alternate cut of 'dawn of the dead' using my favourite version of each scene from both cuts and adding all the extra dialogue from each.(On VHS though)
Still think my cut is the best.(ahem)