I'm pretty sure there's no "correct" method of doing vampirism, what with every setting doing it differently. And incidentally, the standard TES vampires
do have fangs, (The higher the vampirism, the bigger they are) it's just that the situations where you initiate dialogue with a high vampirism vampire are very rare. TES Vampires are also, in vanilla, noticably stronger, faster, stealthier, etc than humans.
Bluekatt: Not sure what you mean by a rash, but I find Vampirism 50 is a healthy compromise for vampiric appearance.
Here's a before-and-after of a few NPCs moved to Vampirism 50, with Vampire Age Offset -20.