Think very highly of Michaelangelo Antonioni and most of his films. Maybe not a favourite of mine when it comes to directors, but most of his films range from very good to masterpiece, though a few didn't do much for me, and his importance, appeal and influence is more than understandable. Although he falls more into the appreciate rather than the love category, he is very interesting as is his visual style and his films' themes (some and the way they were explored were ground-breaking).
Re-worked from Jean Cocteau's 'The Eagle Has Two Heads', 'The Mystery of Oberwald' is not for me among his best films. Although better than 'Zabriskie Point' and 'Beyond the Clouds', this was actually, and this is being said regrettably, one of my least favourite Antonioni films. Not a masterpiece, also not a misfire, instead one of those heavily flawed (to me) but oddly fascinating films that is still watchable (don't think any of Antonioni's films are unwatchable).
Starting with what stood out as good about 'The Mystery of Oberwald', it looks great as all Antonioini films do even the misfires. It's beautifully shot, Antonioini was experimenting here and it works, and absolutely love the rich and atmospheric colours, whether cold grey or warm vibrant. The music suits the tone and story well, especially the dramatically fiery opening that alone promises much. There are poignant and modestly suspenseful moments.
Acting is fine despite most of the characters being thin, with the lead performance of Monica Vitti in particular showing heart-breaking vulnerability. The themes do intrigue, not ground-breaking in how they're written but intriguing all the same.
Did feel however that Antonioni wasn't the right director for this. He and Cocteau have very different styles and they are styles that don't go together, Antonioni just comes over as too detached for such "flamboyant" (in a way) material and didn't seem very comfortable. The script is very rambling, tends to over-explain and is rather simplistic and stilted. The story is slight, barely existent even, and does suffer from some limp pacing (not all the time though), over-stretching and not always being realistic.
Nuances and subtlety are gone, as is the flamboyant (almost escapist) energy, are not here enough. Do agree too that the film doesn't open up the material enough so it came over as rather stagy.
Concluding, worth a one time watch but there are far better films and representations of Antonioni around. 5/10