I think it looks utter codswallop to be honest.
I always get a bit excited when there's mention of a Vlad Tepes movie (one of my favourite historical characters, I find him fascinating), but this looks like another in a long line of soulless CGI fests.
The sad thing for me, is that anyone who knows anything about him (Tepes) knows that there's no need for a melding of the Dracula story to make things exciting. He was an incredibly interesting character anyway, with enough violent battles and gore in his true story to satisfy any horror / fantasy fan.
Hopefully someday, someone will do him justice on film.