There seem to be several things going on here.... First, I don't think there can ever be another Lovecraft, any more than there can be another Tolkien (though many have tried), or another Poe, or another... well, you get the idea. A truly unique and "original" writer (i.e., one who, while using pre-existing materials and having influences from older writers, has an entirely personal vision which permeates and informs his/her work) is simply irreplaceable. They may have imitators, but that's not the same thing.
And, when it comes to Lovecraft (and Tolkien), we aren't likely to see too many writers who spend as much time not only writing the work, but rewriting, revising, rethinking, and simply being so incredibly painstaking in looking for the
mot juste or the precise way to present the material or the scene to present. Certainly no
professional writer would spend that much time at it... it would mean they'd starve to death, unless they had some form of independent means.
However, this does not mean we don't have some damn' fine writers among us even now; we do, and we seem to be favored with a growing number of them over the past ten or twenty years or so; at least as far as the fantasy and horror fields are concerned. (I am referring more to fantasy that steps outside the "usual" idea of that genre here.) China Mieville; Thomas Ligotti; W. H. Pugmire; Caitlin R. Kiernan; Ramsey Campbell; Joe Pulver, Jr.; Michael Shea; Anne K. Schwader... just to name a few off the top of my head. There are many more, as well; writers I've read and have not yet had the pleasure of reading, or have only read a tiny portion of their work (and am therefore unable to comment on their overall quality). Some of these have worked in the Lovecraftian vein; most are influenced in one way or another by him; but all are original voices, and all have turned out stupendous stuff. (Note: Mieville is not quite as much to my personal taste, but as far as quality goes, he must be considered high on the list of fine writers working today. The man is bloody brilliant.) So, while we can't have someone like Lovecraft, or perhaps even someone as important as Lovecraft (though we aren't likely to know that until long after the fact), we do have a number of writers who can easily stand with the best which has gone before.
As for Poe... indeed, he
was a great writer. I'm not sure I'd like to have
known the man, having read a fair amount both about him and of his correspondence, but he remains unique and unsurpassed. He all but invented the short story in its modern form; he was one of the creators of both the pure tale of horror and the detective tale; he has influenced, in one way or another, every writer in either of those fields who has followed; many of his works (though not all) remain among the greatest of their kind, and their power can still be felt in full force today. He was also America's first great critic, and much of his critical thinking remains as acute and stimulating today as when it was first published. He also remains one of our greatest poets, both for some of his eerie verse and for many of his more lyrical works, as well as some of his more pensive pieces. Who can forget such a passage (or image) as those following, from his early piece, "Spirits of the Dead":
Thy soul shall find itself alone
'Mid dark thoughts of the grey tomb-stone --
Not one, of all the crowd, to pry
Into thine hour of secrecy:
Be silent in that solitude
Which is not loneliness -- for then
The spirits of the dead who stood
In life before thee are again
In death around thee -- and their will
Shall then overshadow thee: be still.
The breeze -- the breath of God -- is still --
And the mist upon the hill
Shadowy -- shadowy -- yet unbroken,
Is a symbol and a token --
How it hangs upon the trees,
A mystery of mysteries! --
And this is one of his lesser efforts....
Lovecraft called him his "God of Fiction", as Poe was the one who influenced him most throughout his life, and in whose shadow he always felt he walked.
So yes, I would suggest you look up more of Poe. If you are only interested in his weird pieces, take a look at those suggested by HPL in his
Supernatural Horror in Literature essay. (Poe is the only writer to receive a full chapter devoted to him alone; chapter VII.) Here is a link, to facilitate your looking it up, should you be interested:
HPLA - "Supernatural Horror in Literature" by H. P. Lovecraft
As for your own writing... by all means, pursue it. But always strive to learn and improve; not only in the narrow field of horror, but in every aspect of learning you can. The wider (and deeper) your knowledge, the more you can bring to your writing, and the richer it will be (in time), as you learn to harness that learning to your imagination.
