There really hasn't been a theatrical adaptation of "Dracula" in a while. The last high-profile effort was "Bram Stoker's Dracula", which is mainly remembered for not being much like Bram Stoker's "Dracula". There have been some TV versions since then, and there may or may not be a film in production for 2011, but it's a story that could stand another remake. Like "Hamlet" or "A Christmas Carol", it's a story that seems to reflect timeless themes and lends itself to a variety of interpretations--none perfect, but all interesting.
What might such a remake look like? Honestly, it'd probably look a lot like the recent "Sherlock Holmes" movie: A glossy, high-energy, high-budget version of the classic story with some big-name stars in the major roles. (I'm thinking maybe Viggo Mortensen as Dracula, perhaps?) And such a movie could be very good, just like "Sherlock Holmes" was. (Or, of course, it could be very bad, just like "Bram Stoker's Dracula" was. Big-budget Hollywood movies can be a crapshoot like that.)
But I think a more interesting approach would be one similar to the approach taken by Steven Moffat's "Sherlock" TV series. For those who haven't seen it, the show completely abandons the Victorian era that the character is synonymous with to jump into the present day, updating Watson to a military doctor wounded in the present-day Afghan conflict who blogs about his encounters with the eccentric, almost-sociopathic consulting detective, Sherlock Holmes. It's a little difficult to wrap your head around the idea of a world where nobody knows Holmes' name, but the series works magnificently.
Taking "Dracula" into the modern day...many people don't know it, but the original novel was written as a collection of letters from various people, compiled by Mina Harker (nee Murray) into a statement of evidence against the vampire, Dracula. A modern-day version of this might take the form of video footage--news reports, candid shots, home movies and the like--that Mina compiles after the death of her friend, Lucy, to show to van Helsing. Then the second half of the movie would involve van Helsing filming his vampire-hunting efforts, or at the very least getting one of the others to do so on his behalf, in order to prove to the world that his theories about vampires are real. It could have the potential to be the next "Quarantine", a found-footage movie that has a reason for its central conceit. You could do a lot of interesting things with Dracula's image on the video...perhaps it doesn't quite behave like a normal picture does. Maybe it flickers, or moves in strange ways, or changes when others aren't looking...something like the way things worked in "Paranormal Activity".
Of course, it could wind up more like "The Zombie Diaries". Found-footage horror movies can be a crapshoot like that.