You can't go wrong with anything from the illustrious Hammer Horror. My favourite vampire film they put out was 'Vampire Circus', even though it doesn't have Christopher Lee in it.

Jose Ramon Larraz's Vampyres is the film Hammer should have been making in the 70's...tons of blood, sex, and gratuitous nudity.

Whilst not a 'werewolf' film per se, I can wholeheartedly recommend Brotherhood of the Wolf.

I can't find a trailer for 'Romasanta: The Wolf Hunt', but suffice to say, it's got Elsa Pataky in it, so you know it's worth watching.

Also, if you like low-budget vampire films, then you have to give Razor Blade Smile a spin. Eileen Daly's done a little bit of hardcore work in her time too, which makes it doubly appropriate for discussion on XPT!