Some aspects of this movie haven't aged well, and their refusal to show Lon Cheney Jr.'s face transform for reasons of it being "too scary" short-changes parts of the movie (we would see his face transform in subsequent sequels), but like all Universal monster movies, it has a nice atmosphere and while it doesn't stack up to the work of, say, Val Lewton, it still has a classic feel that makes it fun to watch.
Out of all of Universal's monster movies this is one of the best and one of my favorites. The Wolf Man is iconic and you can see the amount of influence that this film has had on pop culture. Lon Chaney Jr. is great in this film, he has a very expressive face. This is a horror classic that every film buff should see at least once in their lifetime.
Can finally say I have seen all the classic Universal monster flicks, but I wouldn't put this one at the top. Yes the acting is fine, but why does Chaney have zero accent with Rains as his father? Also, Bela Lugosi shouldve had a more substantial role. For what it is though, its still great, and the forest scenes are particularly effective with good moody photography and staging. Mummy and Invisible Man still my favs
The last of the major Universal monsters to join the fold, with a script by Curt Siodmak, it also had one of the most intelligent scripts that emphasized psychological horror over easy scares. http://eddieonfilm.blogspot.com/2010/12/even-man-who-is-pure-at-heart.html