The Incredible Shrinking Man is a very good movie. The special effects (given 1957) are pretty good, and I remember it giving me the creeps when I watched it when I was a kid.

I Am Legend (the book) has been adapted into films three times: The Last Man on Earth (featuring Vincent Price, 1964), The Omega Man (featuring Charlton Heston, 1971), and this one with Will Smith. All three are crap.