I don't know if even del Toro could film that successfully. In order to be a Hollywood film it would have to feature tons of CGI monsters that roared about senselessly while smashing buxom ladies to atoms. While I like that idea in other films, In the Mountains of Madness is good for its subtlety, like the haunting whistle in the air and the unidentifiable tracks in the ice.
I wish he could have stayed on with The Hobbit which is action oriented enough to be a successful film.