Just saw this today for the first time. Pretty good vampire movie.
It's slow & takes a little effort to watch, but it was worth it.
Tony Scott did an AMAZING job on the look and feel of his first movie.

Is it flat out horror or more of a drama?

Thank god Tony Scott hadn't fully decended into masturbatory wankery when he made this.

The opening scene with "Bela Lugosi's Dead" is one of the most badass things I have ever seen and I have considered purchasing the DVD just so I can watch the first 10 minutes over and over.

And this movie is worth watching simply because it contains BOTH Catherine Deneuve and David Bowie. I mean, that is just awesome. That said, Bowie doesn't get nearly enough screen time and most of the time he is on screen, he is covered in VERY realistic old age make-up. It's pretty wild.

And the ending is fucking FREAKY.

Still, all in all, it's a pretty average movie. It's interesting and it has a lot of potential, but overall it's nothing spectacular.