I think the only comparatively, entrancingly ethereal horror film I've seen is White Zombie from 1932 - ironically, a sound film, but delibarately done in silent-esque mannered, visually poetic style.
There's another film that takes the whole Nosferatu story in a different, genius direction. The film is called Shadow of the Vampire and stars Willem Dafoe as Max Schreck. It's a fictional account about the filming of "Nosferatu".
In "Shadow of the Vampire", Max Schreck is actually a real vampire thus throwing the production into turmoil.