This one should be on the list of anyone who loves Lovecraft. While this one doesn't have any of the more well known Mythos in it...it's a measured telling of what is actually a Tale of the Unknown more than it is a Horror Story.
The use of Black & White may look cheap, but it fits with the tone and tenor of the era that it was set in. Color TV did not exist then. The CGI may look simple...but the focus of the story is the people and the 'Colour'. Sometimes when the FX is stunning...you only see the FX and not the story. And Good Horror is more than simply good CGI.
The Telling of the story as a mix of English and German with Subtitles was a different experience, but it didn't subtract from the tale, because the story moves slowly enough that the subtitles are there long enough to be read and become pseudo-invisible. Besides, a hallmark of Lovecraft is that most of the stories are a RE-TELLING of past events thru the witness's eyes and memory Again-- this one is a slower, langourous story. Told through the eyes of the German farmboy who grew up when the meteor came down. And I dare say, the film makers polished and filled in some of the blanks of the original short story. There is no scientific explication by any of the characters here, but you will see that what happened was the intersection of the Earthly with the UN-Earthly...and unfortunately and tragically for the people in the valley...the presence of the Unearthly is just simply inimical to earthbound Life.
This one is good for a Late, after midnight viewing on Saturday night.