This movie, as most people probably know already, is about a vampire, much like the Dracula novel, which it was based on. There are huge differences between Dracula and Nosferatu, however; Nosferatu is not this charming, cape-wearing, handsome villain who oozes sex appeal. He's bald, hunched-over, with pointed ears and strange rodent-teeth.
You arn't meant to be attracted to him, you're meant to fear him. And when he travels in the movie, he doesn't go alone; he brings plague rats with him.
I love this movie. It's not so much scary as creepy, though I did get genuinely frightened during one of the castle scenes with him. Most of the movie plays on atmosphere, and the music, which is a good reason to get the Kino version, as the music is actually GOOD, compared to most versions of this film.
I never found this film boring, but I can see how others might find it so at first. You can't watch this movie expecting a modern day movie sans talking. The shooting style is different, the acting style different. Like I said above, it's not shock-style fear being created; is drawn-out, atmospheric creepiness.
And the acting you see isn't over-acting; it's the only way to really convey an emotion in a silent film.
Sorry, I'm rambling. All I can really end up saying is that I liked it. I loved it, actually. But an IMPORTANT final note; sound isn't the only reason to get the Kino version. The transfer is so clear, you forgot it's in black and white. It is more expensive, but definately worth it. Most other versions just arn't worth seeing.