I liked the episode. I do think they went with the cheesy approach to good old Count Vlad, but I'm not sure you could do Drac in a clever, serious way anymore. He's just been done too many times. I think the cheesy, over-the-top rock star route was really for the best. I mean, really, all you can do at this point is make a little fun.
I, personally, would like it if Buffy would encounter different types of vamps more often. What about succubi or incubi? What about Anne Rice vamps? What about Whitley Streiber vamps (with their weird cat tongues)? What about Vampirella? What about Blade's vamps with their regenerative abilities? I mean, I'm sure there would be some intellectual property issues with some of these, but Joss did give us his version and then the Nosferatu version later on. I'd like it if Whedonverse vamps were the general rule, but if Buffy met an exception every now and again.