Dagon (2001)
It's been about 5 or 6 years since I last saw this movie and a recent article on Badassdigest intrigued me enough to rewatch it. It's a pretty bog-standard affair with some well done practical effects, nudity, and one stomach churning scene where Spanish Zadok Allen gets his face sliced off. There's not really any "good" Lovecraft adaptation outside of the 2005 black and white silent version of
The Call of Cthulhu but
Dagon is certainly one of the better ones.