If you thought the oversaturation of "The Blair Witch Project" and its awful, knock-off sequel had pretty much killed anyone's enthusiasm for making horror movies that feature filmmakers, think again.

Not that "Shadow of the Vampire" has much in common with those films, save for superficial similarities in plot.

And while this dark, comic horror-fantasy doesn't necessarily inject new blood into the now-clich�d premise, there are enough interesting twists to compensate for what is — beneath the veneer of craftsmanship — a pretty formulaic story.

Besides, the film's ornate design and exacting attention to detail — as well as at least one terrific performance — will make it worthwhile for horror fans and movie buffs.

As for the film's story, it's an extremely fictionalized account of the filming of the classic 1922 silent film "Nosferatu," an adaptation of "Dracula" made by exacting German director F.W. Murnau (John Malkovich).

The production has been beset by a number of problems.

First, the widow of author Bram Stoker has declined to let them make an adaptation of her husband's novel, so the filmmakers have had to change the title and character names.

They've also had a difficult time finding an actor to play the main part, so Murnau has recruited a rather shadowy actor named Max Schreck (Willem Dafoe, in heavy makeup and wearing dental appliances).

And all Murnau has told his cast and crew about their new co-star is that he has become so engrossed in his role that he will appear only in makeup and in character. But it becomes all too transparent after several suspicious incidents that Schreck may in fact be a Creature of the Night.

The only thing they're not sure about is the lengths to which Murnau has gone in order to guarantee his star's performance, such as a cryptic promise to Schreck that he'll get a chance to drain the blood of his rather comely female co-star (Catherine McCormack) — but only after the production has wrapped.

Again, the film is imaginatively designed (kudos to production-designer Assheton Gorton) and beautifully shot (by cinematographer Lou Bogue). And the re-creations of certain scenes from the black-and-white horror classic are extremely well-done.

But Steven Katz's plot devolves into yet another variation on Agatha Christie's "And Then There Were None," as Schreck proceeds to tear through the cast and crew. And director E. Elias Merhige can't decide on a consistent tone — the film ping-pongs back and forth between humor and horror, but they never gel as much as they should.

One thing he does manage is pulling good performances from the cast. Malkovich is more controlled here than usual (though he does keep slipping out of his accent), while British comedian Eddie Izzard steals some scenes in a supporting role.

The topper, though, is Dafoe, who exceeds the material's limitations with a performance that pays tribute to the original but also creates one of the most memorable creepy characters in recent cinema.

"Shadow of the Vampire" is rated R for violence (vampire attacks and some gunfire), scattered strong profanity, female nudity, scenes depicting drug use (laudanum, an opium derivative), some crude humor and brief gore. Running time: 89 minutes.

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