I wonder which version the OP saw…the English language or the German language one? The difference in dialogue delivery and fluency in the language makes a real difference.

I love this movie, but if I am in any way sleepy before watching it, it will probably put me to sleep. It's not because it's boring, it has a very ethereal, dreamlike, almost soothing quality to it.
The Hardest Thing In This World Is To Live In It

Soooo boring! I'm watching it on DVD now, there are about 20 minutes left, and it's so boring that I am here typing this instead of devoting my full attention to it! Almost fell asleep.

I usually work the drill when I watch Nosferatu. A fine combination.
"facts are stupid things" Ronald Reagan

The thing with Herzog is that he can be brilliant one scene and then have two scenes in which he either paid no attention or just left the assembly cut with no trimming. Or he'll take a really long time to make a point you picked up on in the first 3 seconds. It can be pretty maddening.
I hated this when I first saw it 20+ years ago on a dark VHS transfer and crummy TV. Now in HD it's really gorgeous and Kinski and Adjani are arresting, but you could cut a half hour without losing anything great.

After three or four attempts trying to watch this movie in full I finally managed to tonight. The second half is much more engaging. The first half an hour usually sends me to sleep.

Are you kidding??? You must have the attention span of a gnat. Were you texting while watching it? Every scene in this beautiful film was hypnotic, and eerie, and gorgeous. And it was no "slower" than any decent retelling of the Dracula legend. I suggest you lose your fake, pseudo-artist friends. If they felt that way about this movie, they are clearly art posers. I bet these pretentious dickheads finger paint with their own excrement and think it's art..
"IMdB; where 14 year olds can act like jaded 40 year old critics'

Really? How so? I though this was just perfect. Very atmospheric, full of unnerving tension and images, never a dull moment. Enjoyed it more than the original Nosferatu or both Draculas (1931/1958).
My only complaint would be that annoying laughing character, who feels ridiculously out of place somehow. Luckily he doesn't have that much screen-time.

"I'd like to see more Werzog actually now."
Please do. I also just saw Woyzeck and I felt that was wonderful at a slightly faster pace.
Phantom der Nacht was utterly mesmerizing in places, such as Harker's journey to the castle (perfect music for those scenes) and basically whenever Kinski was on the screen. Yes, it was slow in places, but I liked the twist on the ending quite a bit.
Did anyone else jump on the first night of Harker's visit when Dracula suddenly became aggressive and backed him all the way over to the fireplace? Kinski really had those unsettling movements down pat.

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Different people fall asleep to different movies. It took me four years to finally watch all of Memento (which I thought was an excellent movie after I finally managed to to it, btw.). Funny enough, I always fell asleep during the same scene (a meeting in a Cafe). By contrast, I have been able to stay awake during many other movies that at first glance appear to be more likely to induce sleep.

The first time I watched it I fell asleep. Or worse, I fought sleep. Hated it. In the morning when I woke up I tried it again. Glutton I suppose.
It is a frightening movie and the pace is part of what makes it frightening. Probably the best "dracula/Nosferatu" movie I have seen.
By the way, I am not a fan of Herzog.

Oh man, you have NOT seen Aguirre or Fitzcarraldo! Or a dozen other Herzog films.
They move at a snail's pace. Like watching paint dry. Pauline Kael commented that the pacing was so terrible in Fitzcarraldo that it put her into a brain-numbed stupor.
Just DEADLY.
By Herzog's standards, this one was very fast!

He has "artist friends"; as if that makes his opinion more important! To quote Bugs Bunny:"What a maroon!".

Man I love the patience of this film, the only thing that bums me out about it is that it's not three hours long.
"and I have artist friends" - Well, you brought the funny at least

"this is probably the most boring and pretentious movie, and I have artist friends, I have ever seen I fell asleep watching this movie. "
lolololol

Bram Stoker's book gets really slow sometimes too. But I loved it.

Definitely, one of the absolutly best vampire films ever!
"Our great war is a spiritual war. Our great depression is our lives!"

• Tyler Durden.

I went through aperiod in the 90's when I'd watch this twice a day. Seriously.
Besides, if you knew anything about Herzog you'd realise he's about the least pretentious film-maker on the planet. I bet if you watch ot again, it will draw you in. Many of his films are like that; you hate them first time round, then they start haunting you
It's not "Mike", it's "Miike"

It is a very good movie but dear lord it is slow.. almost painful.

I've seen Nosferatu 4-5 times and like it a lot, but I admit that I need to be in the right mood or it can somnolize me too. If you like Herzog, and are willing to give it another chance I hope you do so, because I know a few people who ended up liking Nosferatu the second time around.