There were definitely some things to like with this. The first dream sequence was rather effective horror, and has been used effectively for to elicit dread by a number of horror authors. It resonates with Lovecraft's Dream Cycle. Additionally the murder scene was far more brutal and gory than what I was expecting of something from this era. 
 That said, the pacing was deadly dull. It wasn't the remnants of the serialized format that bothered me, but the endless moping. I find that sometimes drunk people who I like rambling on and on tedious. Strangers who do that are pretty unbearable. I might have hated it less if things had been woven together at a tighter pace. I made a valiant attempt, but gave up during Part 2.