I like that one, and it comes pretty close to the novel.
However, the one I've seen that comes closest is Terror of Frankenstein
, which is an Irish/Swedish production. It's pretty dry, though. It could be used in classes teaching the book, but it's slow-going.
It's got its haunting moments, and I do recommend it, but it might make it a little easier to understand why the films tend to deviate from the novel.
I still think a faithful adaptation with a good budget would be worth making, though.