Definitely.
It's one of Hammer's entries into pseudo soft-core, based on the Carmilla story by Sheridan Le Fanu which Hammer trod many times, but it has a beautiful lead in Yutte Sensgaurd (sp?) and a great performance by Ralph Bates.
Much more in the vein of TWINS OF EVIL than the classic DRACULA flicks, but well worth it, especially for two bucks.