By the time I got to see the Spanish DRACULA, I'd already seen Lugosi's probably a dozen or two times.  As incredibly excited as I was to finally see the Spanish version, and as much as I enjoyed it, I've still only watched it twice while I've probably watched the Browning version another 8 or 10 times.  

I think Melford's take is interesting, with some very nice touches.  However, it is seriously, perhaps fatally, damaged by Villarias' performance.  I've read and heard all the criticisms of Browning's film but I don't buy 'em.  I still love it utterly.