It is listed in the film reference book 1001 Movies You Must See Before You Die, which says, "Drawing a remarkable and haunting performance from Chaney and filling the plot with twists and unforgettable characters, Browning here creates a chilling masterpiece of psychological (and psychosexual) drama."
Yep, just watched it and it's chilling and really catches you up in the story. Chaney is amazing and Joan Crawford really beautiful in this. Good stuff.