"Count Dracula" with Christopher Lee directed by Jess Franco is probably the best in both regards. Dracula is genuinly frightening, but with a depth that isn't romantic but more historical. Lots of great language from the novel, and a tour de force performance from Lee.
The only thing stopping it from being the clear and undisputed best Dracula was the ridiculous overuse of the zoom lens. It's like a home movie in some spots.
That's just my opinion, and to be fair, there are two Dracula adaptaions I havent seen yet (Dernhelm Elliot and Jack Palance as the Count).