I have not. I've seen the Call of Cthulhu movie which, I must say, was interesting and humorous. Claymation Cthulhu rising out of the ocean to eat your face had me rolling on the couch laughing.
Are there Sanity points? No point in calling it Lovecraft if there isn't the danger of turning into a gibbering nut-case (or a glibbering Deep One!)
It wouldn't be worth playing unless you could go crazy. I hope they have something like that, but the movie only really shows concept art. I'm not exactly sure of the mechanics at all.